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Powerball Annuity Jackpot Analysis for Montana (Oct. 20, 2018 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 $476,700,000 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:  Oct. 20, 2018
Jackpot:$476,700,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,175,019$1,722,005$495,076$4,957,938
2$7,533,770$1,808,105$519,830$5,205,835
3$7,910,458$1,898,510$545,822$5,466,127
4$8,305,982$1,993,436$573,113$5,739,433
5$8,721,280$2,093,107$601,768$6,026,405
6$9,157,345$2,197,763$631,857$6,327,725
7$9,615,212$2,307,651$663,450$6,644,112
8$10,095,973$2,423,033$696,622$6,976,317
9$10,600,771$2,544,185$731,453$7,325,133
10$11,130,810$2,671,394$768,026$7,691,389
11$11,687,350$2,804,964$806,427$8,075,959
12$12,271,718$2,945,212$846,749$8,479,757
13$12,885,303$3,092,473$889,086$8,903,745
14$13,529,569$3,247,097$933,540$9,348,932
15$14,206,047$3,409,451$980,217$9,816,379
16$14,916,350$3,579,924$1,029,228$10,307,198
17$15,662,167$3,758,920$1,080,690$10,822,557
18$16,445,275$3,946,866$1,134,724$11,363,685
19$17,267,539$4,144,209$1,191,460$11,931,869
20$18,130,916$4,351,420$1,251,033$12,528,463
21$19,037,462$4,568,991$1,313,585$13,154,886
22$19,989,335$4,797,440$1,379,264$13,812,630
23$20,988,802$5,037,312$1,448,227$14,503,262
24$22,038,241$5,289,178$1,520,639$15,228,425
25$23,140,153$5,553,637$1,596,671$15,989,846
26$24,297,162$5,831,319$1,676,504$16,789,339
27$25,512,020$6,122,885$1,760,329$17,628,806
28$26,787,620$6,429,029$1,848,346$18,510,246
29$28,127,001$6,750,480$1,940,763$19,435,758
30$29,533,352$7,088,004$2,037,801$20,407,546
Total$476,700,001$114,408,000$32,892,300$329,399,701
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