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Powerball Annuity Jackpot Analysis for Montana (Jan. 16, 2019 Drawing)

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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 $112,000,000 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:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$116,317$1,164,861
2$1,770,049$424,812$122,133$1,223,104
3$1,858,551$446,052$128,240$1,284,259
4$1,951,479$468,355$134,652$1,348,472
5$2,049,053$491,773$141,385$1,415,895
6$2,151,505$516,361$148,454$1,486,690
7$2,259,081$542,179$155,877$1,561,025
8$2,372,035$569,288$163,670$1,639,076
9$2,490,636$597,753$171,854$1,721,030
10$2,615,168$627,640$180,447$1,807,081
11$2,745,927$659,022$189,469$1,897,435
12$2,883,223$691,974$198,942$1,992,307
13$3,027,384$726,572$208,890$2,091,922
14$3,178,753$762,901$219,334$2,196,519
15$3,337,691$801,046$230,301$2,306,344
16$3,504,576$841,098$241,816$2,421,662
17$3,679,804$883,153$253,906$2,542,745
18$3,863,794$927,311$266,602$2,669,882
19$4,056,984$973,676$279,932$2,803,376
20$4,259,833$1,022,360$293,929$2,943,545
21$4,472,825$1,073,478$308,625$3,090,722
22$4,696,466$1,127,152$324,056$3,245,258
23$4,931,290$1,183,510$340,259$3,407,521
24$5,177,854$1,242,685$357,272$3,577,897
25$5,436,747$1,304,819$375,136$3,756,792
26$5,708,584$1,370,060$393,892$3,944,632
27$5,994,013$1,438,563$413,587$4,141,863
28$6,293,714$1,510,491$434,266$4,348,956
29$6,608,400$1,586,016$455,980$4,566,404
30$6,938,820$1,665,317$478,779$4,794,724
Total$112,000,000$26,880,000$7,728,000$77,392,000
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