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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 $125,000,000 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:  Sat, May 30, 2020
Jackpot:$125,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,881,429$451,543$129,819$1,300,068
2$1,975,501$474,120$136,310$1,365,071
3$2,074,276$497,826$143,125$1,433,325
4$2,177,990$522,718$150,281$1,504,991
5$2,286,889$548,853$157,795$1,580,240
6$2,401,234$576,296$165,685$1,659,252
7$2,521,295$605,111$173,969$1,742,215
8$2,647,360$635,366$182,668$1,829,326
9$2,779,728$667,135$191,801$1,920,792
10$2,918,715$700,491$201,391$2,016,832
11$3,064,650$735,516$211,461$2,117,673
12$3,217,883$772,292$222,034$2,223,557
13$3,378,777$810,906$233,136$2,334,735
14$3,547,716$851,452$244,792$2,451,472
15$3,725,102$894,024$257,032$2,574,045
16$3,911,357$938,726$269,884$2,702,747
17$4,106,924$985,662$283,378$2,837,885
18$4,312,271$1,034,945$297,547$2,979,779
19$4,527,884$1,086,692$312,424$3,128,768
20$4,754,278$1,141,027$328,045$3,285,206
21$4,991,992$1,198,078$344,447$3,449,467
22$5,241,592$1,257,982$361,670$3,621,940
23$5,503,672$1,320,881$379,753$3,803,037
24$5,778,855$1,386,925$398,741$3,993,189
25$6,067,798$1,456,271$418,678$4,192,848
26$6,371,188$1,529,085$439,612$4,402,491
27$6,689,747$1,605,539$461,593$4,622,615
28$7,024,234$1,685,816$484,672$4,853,746
29$7,375,446$1,770,107$508,906$5,096,433
30$7,744,219$1,858,612$534,351$5,351,255
Total$125,000,000$30,000,000$8,625,000$86,375,000
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