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Powerball Annuity Jackpot Analysis for Kansas (Nov. 7, 2018 Drawing)

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $71,000,000 would be for a resident of Kansas, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Kansas

Drawing Date:  Nov. 7, 2018
Jackpot:$71,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,068,652$256,476$53,433$758,743
2$1,122,084$269,300$56,104$796,680
3$1,178,189$282,765$58,909$836,514
4$1,237,098$296,904$61,855$878,340
5$1,298,953$311,749$64,948$922,257
6$1,363,901$327,336$68,195$968,369
7$1,432,096$343,703$71,605$1,016,788
8$1,503,701$360,888$75,185$1,067,627
9$1,578,886$378,933$78,944$1,121,009
10$1,657,830$397,879$82,891$1,177,059
11$1,740,721$417,773$87,036$1,235,912
12$1,827,757$438,662$91,388$1,297,708
13$1,919,145$460,595$95,957$1,362,593
14$2,015,103$483,625$100,755$1,430,723
15$2,115,858$507,806$105,793$1,502,259
16$2,221,651$533,196$111,083$1,577,372
17$2,332,733$559,856$116,637$1,656,240
18$2,449,370$587,849$122,468$1,739,052
19$2,571,838$617,241$128,592$1,826,005
20$2,700,430$648,103$135,022$1,917,305
21$2,835,452$680,508$141,773$2,013,171
22$2,977,224$714,534$148,861$2,113,829
23$3,126,085$750,260$156,304$2,219,521
24$3,282,390$787,774$164,119$2,330,497
25$3,446,509$827,162$172,325$2,447,021
26$3,618,835$868,520$180,942$2,569,373
27$3,799,776$911,946$189,989$2,697,841
28$3,989,765$957,544$199,488$2,832,733
29$4,189,253$1,005,421$209,463$2,974,370
30$4,398,716$1,055,692$219,936$3,123,088
Total$71,000,000$17,040,000$3,550,000$50,410,000
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