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Powerball Annuity Jackpot Analysis for Montana

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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 $348,000,000 would be for a resident of Montana, 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:

Montana

Drawing Date:  Wed, May 4, 2016
Jackpot:$348,000,000
Federal Tax:  25%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,309,475$361,415$3,567,009
2$5,499,794$1,374,949$379,486$3,745,360
3$5,774,784$1,443,696$398,460$3,932,628
4$6,063,523$1,515,881$418,383$4,129,259
5$6,366,699$1,591,675$439,302$4,335,722
6$6,685,034$1,671,259$461,267$4,552,508
7$7,019,286$1,754,822$484,331$4,780,134
8$7,370,251$1,842,563$508,547$5,019,141
9$7,738,763$1,934,691$533,975$5,270,098
10$8,125,701$2,031,425$560,673$5,533,602
11$8,531,986$2,132,997$588,707$5,810,283
12$8,958,586$2,239,646$618,142$6,100,797
13$9,406,515$2,351,629$649,050$6,405,837
14$9,876,841$2,469,210$681,502$6,726,128
15$10,370,683$2,592,671$715,577$7,062,435
16$10,889,217$2,722,304$751,356$7,415,557
17$11,433,677$2,858,419$788,924$7,786,334
18$12,005,361$3,001,340$828,370$8,175,651
19$12,605,629$3,151,407$869,788$8,584,434
20$13,235,911$3,308,978$913,278$9,013,655
21$13,897,706$3,474,427$958,942$9,464,338
22$14,592,592$3,648,148$1,006,889$9,937,555
23$15,322,221$3,830,555$1,057,233$10,434,433
24$16,088,332$4,022,083$1,110,095$10,956,154
25$16,892,749$4,223,187$1,165,600$11,503,962
26$17,737,387$4,434,347$1,223,880$12,079,160
27$18,624,256$4,656,064$1,285,074$12,683,118
28$19,555,469$4,888,867$1,349,327$13,317,274
29$20,533,242$5,133,311$1,416,794$13,983,138
30$21,559,904$5,389,976$1,487,633$14,682,295
Total$348,000,001$87,000,000$24,012,000$236,988,000
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