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Powerball Annuity Jackpot Analysis for Montana (Jan. 5, 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 $69,000,000 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. 5, 2019
Jackpot:$69,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,038,549$249,252$71,660$717,637
2$1,090,476$261,714$75,243$753,519
3$1,145,000$274,800$79,005$791,195
4$1,202,250$288,540$82,955$830,755
5$1,262,363$302,967$87,103$872,293
6$1,325,481$318,115$91,458$915,907
7$1,391,755$334,021$96,031$961,703
8$1,461,343$350,722$100,833$1,009,788
9$1,534,410$368,258$105,874$1,060,277
10$1,611,130$386,671$111,168$1,113,291
11$1,691,687$406,005$116,726$1,168,956
12$1,776,271$426,305$122,563$1,227,403
13$1,865,085$447,620$128,691$1,288,774
14$1,958,339$470,001$135,125$1,353,212
15$2,056,256$493,501$141,882$1,420,873
16$2,159,069$518,177$148,976$1,491,917
17$2,267,022$544,085$156,425$1,566,512
18$2,380,373$571,290$164,246$1,644,838
19$2,499,392$599,854$172,458$1,727,080
20$2,624,362$629,847$181,081$1,813,434
21$2,755,580$661,339$190,135$1,904,106
22$2,893,359$694,406$199,642$1,999,311
23$3,038,027$729,126$209,624$2,099,276
24$3,189,928$765,583$220,105$2,204,240
25$3,349,424$803,862$231,110$2,314,452
26$3,516,896$844,055$242,666$2,430,175
27$3,692,740$886,258$254,799$2,551,684
28$3,877,377$930,571$267,539$2,679,268
29$4,071,246$977,099$280,916$2,813,231
30$4,274,809$1,025,954$294,962$2,953,893
Total$69,000,000$16,560,000$4,761,000$47,679,000
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