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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 $90,000,000 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, Mar 4, 2015
Jackpot:$90,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,604,709$401,177$96,283$1,107,249
2$1,668,897$417,224$100,134$1,151,539
3$1,735,653$433,913$104,139$1,197,601
4$1,805,079$451,270$108,305$1,245,505
5$1,877,282$469,321$112,637$1,295,325
6$1,952,374$488,093$117,142$1,347,138
7$2,030,469$507,617$121,828$1,401,023
8$2,111,687$527,922$126,701$1,457,064
9$2,196,155$549,039$131,769$1,515,347
10$2,284,001$571,000$137,040$1,575,961
11$2,375,361$593,840$142,522$1,638,999
12$2,470,376$617,594$148,223$1,704,559
13$2,569,191$642,298$154,151$1,772,742
14$2,671,958$667,990$160,317$1,843,651
15$2,778,837$694,709$166,730$1,917,397
16$2,889,990$722,498$173,399$1,994,093
17$3,005,590$751,397$180,335$2,073,857
18$3,125,813$781,453$187,549$2,156,811
19$3,250,846$812,711$195,051$2,243,084
20$3,380,880$845,220$202,853$2,332,807
21$3,516,115$879,029$210,967$2,426,119
22$3,656,759$914,190$219,406$2,523,164
23$3,803,030$950,757$228,182$2,624,091
24$3,955,151$988,788$237,309$2,729,054
25$4,113,357$1,028,339$246,801$2,838,216
26$4,277,891$1,069,473$256,673$2,951,745
27$4,449,007$1,112,252$266,940$3,069,815
28$4,626,967$1,156,742$277,618$3,192,607
29$4,812,046$1,203,011$288,723$3,320,312
30$5,004,528$1,251,132$300,272$3,453,124
Total$90,000,000$22,500,000$5,400,000$62,100,000
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