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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 $50,000,000 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, Aug 24, 2019
Jackpot:$50,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$180,617$51,927$520,027
2$790,200$189,648$54,524$546,028
3$829,710$199,130$57,250$573,330
4$871,196$209,087$60,113$601,996
5$914,756$219,541$63,118$632,096
6$960,493$230,518$66,274$663,701
7$1,008,518$242,044$69,588$696,886
8$1,058,944$254,147$73,067$731,730
9$1,111,891$266,854$76,720$768,317
10$1,167,486$280,197$80,557$806,733
11$1,225,860$294,206$84,584$847,069
12$1,287,153$308,917$88,814$889,423
13$1,351,511$324,363$93,254$933,894
14$1,419,086$340,581$97,917$980,589
15$1,490,041$357,610$102,813$1,029,618
16$1,564,543$375,490$107,953$1,081,099
17$1,642,770$394,265$113,351$1,135,154
18$1,724,908$413,978$119,019$1,191,912
19$1,811,154$434,677$124,970$1,251,507
20$1,901,711$456,411$131,218$1,314,083
21$1,996,797$479,231$137,779$1,379,787
22$2,096,637$503,193$144,668$1,448,776
23$2,201,469$528,352$151,901$1,521,215
24$2,311,542$554,770$159,496$1,597,276
25$2,427,119$582,509$167,471$1,677,139
26$2,548,475$611,634$175,845$1,760,996
27$2,675,899$642,216$184,637$1,849,046
28$2,809,694$674,327$193,869$1,941,498
29$2,950,178$708,043$203,562$2,038,573
30$3,097,687$743,445$213,740$2,140,502
Total$50,000,000$12,000,000$3,450,000$34,550,000
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