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Powerball Annuity Jackpot Analysis for Missouri (Nov. 7, 2018 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 $71,000,000 would be for a resident of Missouri, 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:

Missouri

Drawing Date:  Nov. 7, 2018
Jackpot:$71,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,068,652$256,476$42,746$769,429
2$1,122,084$269,300$44,883$807,901
3$1,178,189$282,765$47,128$848,296
4$1,237,098$296,904$49,484$890,711
5$1,298,953$311,749$51,958$935,246
6$1,363,901$327,336$54,556$982,009
7$1,432,096$343,703$57,284$1,031,109
8$1,503,701$360,888$60,148$1,082,664
9$1,578,886$378,933$63,155$1,136,798
10$1,657,830$397,879$66,313$1,193,637
11$1,740,721$417,773$69,629$1,253,319
12$1,827,757$438,662$73,110$1,315,985
13$1,919,145$460,595$76,766$1,381,785
14$2,015,103$483,625$80,604$1,450,874
15$2,115,858$507,806$84,634$1,523,418
16$2,221,651$533,196$88,866$1,599,588
17$2,332,733$559,856$93,309$1,679,568
18$2,449,370$587,849$97,975$1,763,546
19$2,571,838$617,241$102,874$1,851,723
20$2,700,430$648,103$108,017$1,944,310
21$2,835,452$680,508$113,418$2,041,525
22$2,977,224$714,534$119,089$2,143,601
23$3,126,085$750,260$125,043$2,250,781
24$3,282,390$787,774$131,296$2,363,321
25$3,446,509$827,162$137,860$2,481,487
26$3,618,835$868,520$144,753$2,605,561
27$3,799,776$911,946$151,991$2,735,839
28$3,989,765$957,544$159,591$2,872,631
29$4,189,253$1,005,421$167,570$3,016,262
30$4,398,716$1,055,692$175,949$3,167,076
Total$71,000,000$17,040,000$2,840,000$51,120,000
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