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Powerball Annuity Jackpot Analysis for Kentucky

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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 $135,000,000 would be for a resident of Kentucky, 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:

Kentucky

Drawing Date:  Wed, Jan 18, 2017
Jackpot:$135,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,031,944$507,986$121,917$1,402,041
2$2,133,541$533,385$128,012$1,472,143
3$2,240,218$560,054$134,413$1,545,750
4$2,352,229$588,057$141,134$1,623,038
5$2,469,840$617,460$148,190$1,704,190
6$2,593,332$648,333$155,600$1,789,399
7$2,722,999$680,750$163,380$1,878,869
8$2,859,149$714,787$171,549$1,972,813
9$3,002,106$750,527$180,126$2,071,453
10$3,152,212$788,053$189,133$2,175,026
11$3,309,822$827,456$198,589$2,283,777
12$3,475,313$868,828$208,519$2,397,966
13$3,649,079$912,270$218,945$2,517,865
14$3,831,533$957,883$229,892$2,643,758
15$4,023,110$1,005,777$241,387$2,775,946
16$4,224,265$1,056,066$253,456$2,914,743
17$4,435,478$1,108,870$266,129$3,060,480
18$4,657,252$1,164,313$279,435$3,213,504
19$4,890,115$1,222,529$293,407$3,374,179
20$5,134,621$1,283,655$308,077$3,542,888
21$5,391,352$1,347,838$323,481$3,720,033
22$5,660,919$1,415,230$339,655$3,906,034
23$5,943,965$1,485,991$356,638$4,101,336
24$6,241,163$1,560,291$374,470$4,306,403
25$6,553,222$1,638,305$393,193$4,521,723
26$6,880,883$1,720,221$412,853$4,747,809
27$7,224,927$1,806,232$433,496$4,985,200
28$7,586,173$1,896,543$455,170$5,234,459
29$7,965,482$1,991,370$477,929$5,496,182
30$8,363,756$2,090,939$501,825$5,770,992
Total$135,000,000$33,750,000$8,100,000$93,150,000
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