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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 $40,000,000 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, Mar 28, 2015
Jackpot:$40,000,000
Federal Tax:  25%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$713,204$178,301$49,211$485,692
2$741,732$185,433$51,180$505,120
3$771,401$192,850$53,227$525,324
4$802,257$200,564$55,356$546,337
5$834,348$208,587$57,570$568,191
6$867,722$216,930$59,873$590,918
7$902,431$225,608$62,268$614,555
8$938,528$234,632$64,758$639,137
9$976,069$244,017$67,349$664,703
10$1,015,112$253,778$70,043$691,291
11$1,055,716$263,929$72,844$718,943
12$1,097,945$274,486$75,758$747,700
13$1,141,863$285,466$78,789$777,608
14$1,187,537$296,884$81,940$808,713
15$1,235,039$308,760$85,218$841,061
16$1,284,440$321,110$88,626$874,704
17$1,335,818$333,954$92,171$909,692
18$1,389,250$347,313$95,858$946,079
19$1,444,820$361,205$99,693$983,923
20$1,502,613$375,653$103,680$1,023,280
21$1,562,718$390,679$107,828$1,064,211
22$1,625,226$406,307$112,141$1,106,779
23$1,690,235$422,559$116,626$1,151,050
24$1,757,845$439,461$121,291$1,197,092
25$1,828,159$457,040$126,143$1,244,976
26$1,901,285$475,321$131,189$1,294,775
27$1,977,336$494,334$136,436$1,346,566
28$2,056,430$514,107$141,894$1,400,429
29$2,138,687$534,672$147,569$1,456,446
30$2,224,235$556,059$153,472$1,514,704
Total$40,000,000$10,000,000$2,760,000$27,240,000
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