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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 $102,000,000 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, Oct 24, 2020
Jackpot:$102,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,535,246$368,459$105,932$1,060,855
2$1,612,009$386,882$111,229$1,113,898
3$1,692,609$406,226$116,790$1,169,593
4$1,777,240$426,538$122,630$1,228,073
5$1,866,102$447,864$128,761$1,289,476
6$1,959,407$470,258$135,199$1,353,950
7$2,057,377$493,770$141,959$1,421,648
8$2,160,246$518,459$149,057$1,492,730
9$2,268,258$544,382$156,510$1,567,366
10$2,381,671$571,601$164,335$1,645,735
11$2,500,755$600,181$172,552$1,728,021
12$2,625,792$630,190$181,180$1,814,422
13$2,757,082$661,700$190,239$1,905,144
14$2,894,936$694,785$199,751$2,000,401
15$3,039,683$729,524$209,738$2,100,421
16$3,191,667$766,000$220,225$2,205,442
17$3,351,250$804,300$231,236$2,315,714
18$3,518,813$844,515$242,798$2,431,500
19$3,694,753$886,741$254,938$2,553,075
20$3,879,491$931,078$267,685$2,680,728
21$4,073,466$977,632$281,069$2,814,765
22$4,277,139$1,026,513$295,123$2,955,503
23$4,490,996$1,077,839$309,879$3,103,278
24$4,715,546$1,131,731$325,373$3,258,442
25$4,951,323$1,188,318$341,641$3,421,364
26$5,198,889$1,247,733$358,723$3,592,432
27$5,458,834$1,310,120$376,660$3,772,054
28$5,731,775$1,375,626$395,492$3,960,657
29$6,018,364$1,444,407$415,267$4,158,690
30$6,319,282$1,516,628$436,030$4,366,624
Total$102,000,000$24,480,000$7,038,000$70,482,000
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