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Powerball Annuity Jackpot Analysis for Montana (Oct. 24, 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 $602,500,000 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. 24, 2018
Jackpot:$602,500,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,068,490$2,176,438$625,726$6,266,326
2$9,521,914$2,285,259$657,012$6,579,643
3$9,998,010$2,399,522$689,863$6,908,625
4$10,497,911$2,519,499$724,356$7,254,056
5$11,022,806$2,645,473$760,574$7,616,759
6$11,573,946$2,777,747$798,602$7,997,597
7$12,152,644$2,916,634$838,532$8,397,477
8$12,760,276$3,062,466$880,459$8,817,351
9$13,398,290$3,215,589$924,482$9,258,218
10$14,068,204$3,376,369$970,706$9,721,129
11$14,771,614$3,545,187$1,019,241$10,207,185
12$15,510,195$3,722,447$1,070,203$10,717,545
13$16,285,705$3,908,569$1,123,714$11,253,422
14$17,099,990$4,103,998$1,179,899$11,816,093
15$17,954,989$4,309,197$1,238,894$12,406,898
16$18,852,739$4,524,657$1,300,839$13,027,243
17$19,795,375$4,750,890$1,365,881$13,678,604
18$20,785,144$4,988,435$1,434,175$14,362,535
19$21,824,401$5,237,856$1,505,884$15,080,661
20$22,915,622$5,499,749$1,581,178$15,834,695
21$24,061,403$5,774,737$1,660,237$16,626,429
22$25,264,473$6,063,473$1,743,249$17,457,751
23$26,527,697$6,366,647$1,830,411$18,330,638
24$27,854,081$6,684,979$1,921,932$19,247,170
25$29,246,785$7,019,228$2,018,028$20,209,529
26$30,709,125$7,370,190$2,118,930$21,220,005
27$32,244,581$7,738,699$2,224,876$22,281,006
28$33,856,810$8,125,634$2,336,120$23,395,055
29$35,549,650$8,531,916$2,452,926$24,564,808
30$37,327,133$8,958,512$2,575,572$25,793,049
Total$602,500,001$144,600,000$41,572,500$416,327,501
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