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Powerball Annuity Jackpot Analysis for Mississippi

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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 $158,000,000 would be for a resident of Mississippi, 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:

Mississippi

Drawing Date:  Sat, Aug 8, 2020
Jackpot:$158,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,378,127$570,750$118,906$1,688,470
2$2,497,033$599,288$124,852$1,772,894
3$2,621,885$629,252$131,094$1,861,538
4$2,752,979$660,715$137,649$1,954,615
5$2,890,628$693,751$144,531$2,052,346
6$3,035,159$728,438$151,758$2,154,963
7$3,186,917$764,860$159,346$2,262,711
8$3,346,263$803,103$167,313$2,375,847
9$3,513,576$843,258$175,679$2,494,639
10$3,689,255$885,421$184,463$2,619,371
11$3,873,718$929,692$193,686$2,750,340
12$4,067,404$976,177$203,370$2,887,857
13$4,270,774$1,024,986$213,539$3,032,250
14$4,484,313$1,076,235$224,216$3,183,862
15$4,708,528$1,130,047$235,426$3,343,055
16$4,943,955$1,186,549$247,198$3,510,208
17$5,191,152$1,245,877$259,558$3,685,718
18$5,450,710$1,308,170$272,536$3,870,004
19$5,723,246$1,373,579$286,162$4,063,504
20$6,009,408$1,442,258$300,470$4,266,680
21$6,309,878$1,514,371$315,494$4,480,014
22$6,625,372$1,590,089$331,269$4,704,014
23$6,956,641$1,669,594$347,832$4,939,215
24$7,304,473$1,753,073$365,224$5,186,176
25$7,669,696$1,840,727$383,485$5,445,484
26$8,053,181$1,932,764$402,659$5,717,759
27$8,455,840$2,029,402$422,792$6,003,647
28$8,878,632$2,130,872$443,932$6,303,829
29$9,322,564$2,237,415$466,128$6,619,020
30$9,788,692$2,349,286$489,435$6,949,971
Total$158,000,000$37,920,000$7,900,000$112,180,000
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