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Powerball Annuity Jackpot Analysis for Montana (Oct. 31, 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 $40,000,000 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:  Oct. 31, 2018
Jackpot:$40,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$144,494$41,542$416,022
2$632,160$151,718$43,619$436,823
3$663,768$159,304$45,800$458,664
4$696,957$167,270$48,090$481,597
5$731,805$175,633$50,495$505,677
6$768,395$184,415$53,019$530,961
7$806,815$193,635$55,670$557,509
8$847,155$203,317$58,454$585,384
9$889,513$213,483$61,376$614,653
10$933,989$224,157$64,445$645,386
11$980,688$235,365$67,667$677,655
12$1,029,722$247,133$71,051$711,538
13$1,081,209$259,490$74,603$747,115
14$1,135,269$272,465$78,334$784,471
15$1,192,032$286,088$82,250$823,694
16$1,251,634$300,392$86,363$864,879
17$1,314,216$315,412$90,681$908,123
18$1,379,927$331,182$95,215$953,529
19$1,448,923$347,742$99,976$1,001,206
20$1,521,369$365,129$104,974$1,051,266
21$1,597,438$383,385$110,223$1,103,829
22$1,677,309$402,554$115,734$1,159,021
23$1,761,175$422,682$121,521$1,216,972
24$1,849,234$443,816$127,597$1,277,820
25$1,941,695$466,007$133,977$1,341,711
26$2,038,780$489,307$140,676$1,408,797
27$2,140,719$513,773$147,710$1,479,237
28$2,247,755$539,461$155,095$1,553,199
29$2,360,143$566,434$162,850$1,630,859
30$2,478,150$594,756$170,992$1,712,402
Total$40,000,000$9,600,000$2,760,000$27,640,000
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