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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 $314,000,000 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:  Sat, Apr 30, 2016
Jackpot:$314,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,726,151$1,181,538$283,569$3,261,044
2$4,962,458$1,240,615$297,747$3,424,096
3$5,210,581$1,302,645$312,635$3,595,301
4$5,471,110$1,367,778$328,267$3,775,066
5$5,744,665$1,436,166$344,680$3,963,819
6$6,031,899$1,507,975$361,914$4,162,010
7$6,333,494$1,583,373$380,010$4,370,111
8$6,650,169$1,662,542$399,010$4,588,616
9$6,982,677$1,745,669$418,961$4,818,047
10$7,331,811$1,832,953$439,909$5,058,949
11$7,698,401$1,924,600$461,904$5,311,897
12$8,083,321$2,020,830$484,999$5,577,492
13$8,487,488$2,121,872$509,249$5,856,366
14$8,911,862$2,227,965$534,712$6,149,185
15$9,357,455$2,339,364$561,447$6,456,644
16$9,825,328$2,456,332$589,520$6,779,476
17$10,316,594$2,579,149$618,996$7,118,450
18$10,832,424$2,708,106$649,945$7,474,372
19$11,374,045$2,843,511$682,443$7,848,091
20$11,942,747$2,985,687$716,565$8,240,496
21$12,539,885$3,134,971$752,393$8,652,520
22$13,166,879$3,291,720$790,013$9,085,146
23$13,825,223$3,456,306$829,513$9,539,404
24$14,516,484$3,629,121$870,989$10,016,374
25$15,242,308$3,810,577$914,538$10,517,192
26$16,004,424$4,001,106$960,265$11,043,052
27$16,804,645$4,201,161$1,008,279$11,595,205
28$17,644,877$4,411,219$1,058,693$12,174,965
29$18,527,121$4,631,780$1,111,627$12,783,713
30$19,453,477$4,863,369$1,167,209$13,422,899
Total$314,000,001$78,500,000$18,840,000$216,660,000
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