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Powerball Annuity Jackpot Analysis for Montana (Oct. 27, 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 $687,800,000 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. 27, 2018
Jackpot:$687,800,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,352,377$2,484,570$714,314$7,153,493
2$10,869,996$2,608,799$750,030$7,511,167
3$11,413,496$2,739,239$787,531$7,886,725
4$11,984,171$2,876,201$826,908$8,281,062
5$12,583,379$3,020,011$868,253$8,695,115
6$13,212,548$3,171,011$911,666$9,129,871
7$13,873,176$3,329,562$957,249$9,586,364
8$14,566,834$3,496,040$1,005,112$10,065,683
9$15,295,176$3,670,842$1,055,367$10,568,967
10$16,059,935$3,854,384$1,108,135$11,097,415
11$16,862,932$4,047,104$1,163,542$11,652,286
12$17,706,078$4,249,459$1,221,719$12,234,900
13$18,591,382$4,461,932$1,282,805$12,846,645
14$19,520,951$4,685,028$1,346,946$13,488,977
15$20,496,998$4,919,280$1,414,293$14,163,426
16$21,521,849$5,165,244$1,485,008$14,871,597
17$22,597,941$5,423,506$1,559,258$15,615,177
18$23,727,838$5,694,681$1,637,221$16,395,936
19$24,914,230$5,979,415$1,719,082$17,215,733
20$26,159,941$6,278,386$1,805,036$18,076,519
21$27,467,938$6,592,305$1,895,288$18,980,345
22$28,841,335$6,921,920$1,990,052$19,929,363
23$30,283,402$7,268,016$2,089,555$20,925,831
24$31,797,572$7,631,417$2,194,032$21,972,122
25$33,387,450$8,012,988$2,303,734$23,070,728
26$35,056,823$8,413,638$2,418,921$24,224,265
27$36,809,665$8,834,319$2,539,867$25,435,478
28$38,650,147$9,276,035$2,666,860$26,707,252
29$40,582,655$9,739,837$2,800,203$28,042,614
30$42,611,788$10,226,829$2,940,213$29,444,745
Total$687,800,001$165,072,000$47,458,200$475,269,801
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