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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 $120,000,000 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, Sep 2, 2015
Jackpot:$120,000,000
Federal Tax:  25%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,139,612$534,903$147,633$1,457,076
2$2,225,196$556,299$153,539$1,515,359
3$2,314,204$578,551$159,680$1,575,973
4$2,406,772$601,693$166,067$1,639,012
5$2,503,043$625,761$172,710$1,704,572
6$2,603,165$650,791$179,618$1,772,755
7$2,707,292$676,823$186,803$1,843,666
8$2,815,583$703,896$194,275$1,917,412
9$2,928,207$732,052$202,046$1,994,109
10$3,045,335$761,334$210,128$2,073,873
11$3,167,148$791,787$218,533$2,156,828
12$3,293,834$823,459$227,275$2,243,101
13$3,425,588$856,397$236,366$2,332,825
14$3,562,611$890,653$245,820$2,426,138
15$3,705,116$926,279$255,653$2,523,184
16$3,853,320$963,330$265,879$2,624,111
17$4,007,453$1,001,863$276,514$2,729,075
18$4,167,751$1,041,938$287,575$2,838,238
19$4,334,461$1,083,615$299,078$2,951,768
20$4,507,840$1,126,960$311,041$3,069,839
21$4,688,153$1,172,038$323,483$3,192,632
22$4,875,679$1,218,920$336,422$3,320,338
23$5,070,706$1,267,677$349,879$3,453,151
24$5,273,535$1,318,384$363,874$3,591,277
25$5,484,476$1,371,119$378,429$3,734,928
26$5,703,855$1,425,964$393,566$3,884,325
27$5,932,009$1,483,002$409,309$4,039,698
28$6,169,290$1,542,322$425,681$4,201,286
29$6,416,061$1,604,015$442,708$4,369,338
30$6,672,704$1,668,176$460,417$4,544,111
Total$120,000,000$30,000,000$8,280,000$81,720,000
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