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Powerball Annuity Jackpot Analysis for Louisiana (Jul. 29, 2020 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 $126,000,000 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:  Jul. 29, 2020
Jackpot:$126,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,896,481$455,155$94,824$1,346,501
2$1,991,305$477,913$99,565$1,413,826
3$2,090,870$501,809$104,544$1,484,518
4$2,195,414$526,899$109,771$1,558,744
5$2,305,184$553,244$115,259$1,636,681
6$2,420,443$580,906$121,022$1,718,515
7$2,541,466$609,952$127,073$1,804,441
8$2,668,539$640,449$133,427$1,894,663
9$2,801,966$672,472$140,098$1,989,396
10$2,942,064$706,095$147,103$2,088,866
11$3,089,167$741,400$154,458$2,193,309
12$3,243,626$778,470$162,181$2,302,974
13$3,405,807$817,394$170,290$2,418,123
14$3,576,097$858,263$178,805$2,539,029
15$3,754,902$901,177$187,745$2,665,981
16$3,942,647$946,235$197,132$2,799,280
17$4,139,780$993,547$206,989$2,939,244
18$4,346,769$1,043,225$217,338$3,086,206
19$4,564,107$1,095,386$228,205$3,240,516
20$4,792,313$1,150,155$239,616$3,402,542
21$5,031,928$1,207,663$251,596$3,572,669
22$5,283,525$1,268,046$264,176$3,751,302
23$5,547,701$1,331,448$277,385$3,938,868
24$5,825,086$1,398,021$291,254$4,135,811
25$6,116,340$1,467,922$305,817$4,342,601
26$6,422,157$1,541,318$321,108$4,559,732
27$6,743,265$1,618,384$337,163$4,787,718
28$7,080,428$1,699,303$354,021$5,027,104
29$7,434,450$1,784,268$371,722$5,278,459
30$7,806,172$1,873,481$390,309$5,542,382
Total$126,000,000$30,240,000$6,300,000$89,460,000
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