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Powerball Annuity Jackpot Analysis for Louisiana (Jan. 16, 2019 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 $112,000,000 would be for a resident of Louisiana, 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:

Louisiana

Drawing Date:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$84,288$1,196,890
2$1,770,049$424,812$88,502$1,256,735
3$1,858,551$446,052$92,928$1,319,571
4$1,951,479$468,355$97,574$1,385,550
5$2,049,053$491,773$102,453$1,454,827
6$2,151,505$516,361$107,575$1,527,569
7$2,259,081$542,179$112,954$1,603,947
8$2,372,035$569,288$118,602$1,684,145
9$2,490,636$597,753$124,532$1,768,352
10$2,615,168$627,640$130,758$1,856,769
11$2,745,927$659,022$137,296$1,949,608
12$2,883,223$691,974$144,161$2,047,088
13$3,027,384$726,572$151,369$2,149,443
14$3,178,753$762,901$158,938$2,256,915
15$3,337,691$801,046$166,885$2,369,761
16$3,504,576$841,098$175,229$2,488,249
17$3,679,804$883,153$183,990$2,612,661
18$3,863,794$927,311$193,190$2,743,294
19$4,056,984$973,676$202,849$2,880,459
20$4,259,833$1,022,360$212,992$3,024,482
21$4,472,825$1,073,478$223,641$3,175,706
22$4,696,466$1,127,152$234,823$3,334,491
23$4,931,290$1,183,510$246,564$3,501,216
24$5,177,854$1,242,685$258,893$3,676,276
25$5,436,747$1,304,819$271,837$3,860,090
26$5,708,584$1,370,060$285,429$4,053,095
27$5,994,013$1,438,563$299,701$4,255,750
28$6,293,714$1,510,491$314,686$4,468,537
29$6,608,400$1,586,016$330,420$4,691,964
30$6,938,820$1,665,317$346,941$4,926,562
Total$112,000,000$26,880,000$5,600,000$79,520,000
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