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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 $157,000,000 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, Feb 10, 2016
Jackpot:$157,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,363,075$590,769$141,785$1,630,522
2$2,481,229$620,307$148,874$1,712,048
3$2,605,290$651,323$156,317$1,797,650
4$2,735,555$683,889$164,133$1,887,533
5$2,872,333$718,083$172,340$1,981,910
6$3,015,949$753,987$180,957$2,081,005
7$3,166,747$791,687$190,005$2,185,055
8$3,325,084$831,271$199,505$2,294,308
9$3,491,339$872,835$209,480$2,409,024
10$3,665,905$916,476$219,954$2,529,475
11$3,849,201$962,300$230,952$2,655,948
12$4,041,661$1,010,415$242,500$2,788,746
13$4,243,744$1,060,936$254,625$2,928,183
14$4,455,931$1,113,983$267,356$3,074,592
15$4,678,727$1,169,682$280,724$3,228,322
16$4,912,664$1,228,166$294,760$3,389,738
17$5,158,297$1,289,574$309,498$3,559,225
18$5,416,212$1,354,053$324,973$3,737,186
19$5,687,022$1,421,756$341,221$3,924,045
20$5,971,374$1,492,843$358,282$4,120,248
21$6,269,942$1,567,486$376,197$4,326,260
22$6,583,439$1,645,860$395,006$4,542,573
23$6,912,611$1,728,153$414,757$4,769,702
24$7,258,242$1,814,560$435,495$5,008,187
25$7,621,154$1,905,288$457,269$5,258,596
26$8,002,212$2,000,553$480,133$5,521,526
27$8,402,322$2,100,581$504,139$5,797,602
28$8,822,438$2,205,610$529,346$6,087,482
29$9,263,560$2,315,890$555,814$6,391,857
30$9,726,738$2,431,685$583,604$6,711,450
Total$157,000,000$39,250,000$9,420,000$108,330,000
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