USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Minnesota

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $70,000,000 would be for a resident of Minnesota, 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:

Minnesota

Drawing Date:  Sat, Oct 1, 2016
Jackpot:$70,000,000
Federal Tax:  25%
State Tax:7.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,053,600$263,400$76,386$713,814
2$1,106,280$276,570$80,205$749,505
3$1,161,594$290,399$84,216$786,980
4$1,219,674$304,919$88,426$826,329
5$1,280,658$320,164$92,848$867,646
6$1,344,691$336,173$97,490$911,028
7$1,411,925$352,981$102,365$956,579
8$1,482,522$370,630$107,483$1,004,408
9$1,556,648$389,162$112,857$1,054,629
10$1,634,480$408,620$118,500$1,107,360
11$1,716,204$429,051$124,425$1,162,728
12$1,802,014$450,504$130,646$1,220,865
13$1,892,115$473,029$137,178$1,281,908
14$1,986,721$496,680$144,037$1,346,003
15$2,086,057$521,514$151,239$1,413,304
16$2,190,360$547,590$158,801$1,483,969
17$2,299,878$574,969$166,741$1,558,167
18$2,414,872$603,718$175,078$1,636,075
19$2,535,615$633,904$183,832$1,717,879
20$2,662,396$665,599$193,024$1,803,773
21$2,795,516$698,879$202,675$1,893,962
22$2,935,291$733,823$212,809$1,988,660
23$3,082,056$770,514$223,449$2,088,093
24$3,236,159$809,040$234,622$2,192,498
25$3,397,967$849,492$246,353$2,302,122
26$3,567,865$891,966$258,670$2,417,229
27$3,746,258$936,565$271,604$2,538,090
28$3,933,571$983,393$285,184$2,664,995
29$4,130,250$1,032,562$299,443$2,798,244
30$4,336,762$1,084,191$314,415$2,938,156
Total$70,000,000$17,500,000$5,075,000$47,425,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  Terms of Use
Copyright © 1999-2016 Speednet Group.  All rights reserved.