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 $158,000,000 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, Aug 8, 2020
Jackpot:$158,000,000
Federal Tax:  24%
State Tax:7.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,378,127$570,750$172,414$1,634,962
2$2,497,033$599,288$181,035$1,716,710
3$2,621,885$629,252$190,087$1,802,546
4$2,752,979$660,715$199,591$1,892,673
5$2,890,628$693,751$209,571$1,987,307
6$3,035,159$728,438$220,049$2,086,672
7$3,186,917$764,860$231,052$2,191,006
8$3,346,263$803,103$242,604$2,300,556
9$3,513,576$843,258$254,734$2,415,584
10$3,689,255$885,421$267,471$2,536,363
11$3,873,718$929,692$280,845$2,663,181
12$4,067,404$976,177$294,887$2,796,340
13$4,270,774$1,024,986$309,631$2,936,157
14$4,484,313$1,076,235$325,113$3,082,965
15$4,708,528$1,130,047$341,368$3,237,113
16$4,943,955$1,186,549$358,437$3,398,969
17$5,191,152$1,245,877$376,359$3,568,917
18$5,450,710$1,308,170$395,176$3,747,363
19$5,723,246$1,373,579$414,935$3,934,731
20$6,009,408$1,442,258$435,682$4,131,468
21$6,309,878$1,514,371$457,466$4,338,041
22$6,625,372$1,590,089$480,339$4,554,943
23$6,956,641$1,669,594$504,356$4,782,691
24$7,304,473$1,753,073$529,574$5,021,825
25$7,669,696$1,840,727$556,053$5,272,916
26$8,053,181$1,932,764$583,856$5,536,562
27$8,455,840$2,029,402$613,048$5,813,390
28$8,878,632$2,130,872$643,701$6,104,060
29$9,322,564$2,237,415$675,886$6,409,263
30$9,788,692$2,349,286$709,680$6,729,726
Total$158,000,000$37,920,000$11,455,000$108,625,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.