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Powerball Annuity Jackpot Analysis for Montana (Nov. 3, 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 $53,000,000 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:  Nov. 3, 2018
Jackpot:$53,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$797,726$191,454$55,043$551,229
2$837,612$201,027$57,795$578,790
3$879,493$211,078$60,685$607,730
4$923,468$221,632$63,719$638,116
5$969,641$232,714$66,905$670,022
6$1,018,123$244,350$70,250$703,523
7$1,069,029$256,567$73,763$738,699
8$1,122,481$269,395$77,451$775,634
9$1,178,605$282,865$81,324$814,416
10$1,237,535$297,008$85,390$855,137
11$1,299,412$311,859$89,659$897,893
12$1,364,382$327,452$94,142$942,788
13$1,432,601$343,824$98,849$989,928
14$1,504,231$361,016$103,792$1,039,424
15$1,579,443$379,066$108,982$1,091,395
16$1,658,415$398,020$114,431$1,145,965
17$1,741,336$417,921$120,152$1,203,263
18$1,828,403$438,817$126,160$1,263,426
19$1,919,823$460,757$132,468$1,326,598
20$2,015,814$483,795$139,091$1,392,927
21$2,116,605$507,985$146,046$1,462,574
22$2,222,435$533,384$153,348$1,535,703
23$2,333,557$560,054$161,015$1,612,488
24$2,450,235$588,056$169,066$1,693,112
25$2,572,746$617,459$177,519$1,777,768
26$2,701,384$648,332$186,395$1,866,656
27$2,836,453$680,749$195,715$1,959,989
28$2,978,275$714,786$205,501$2,057,988
29$3,127,189$750,525$215,776$2,160,888
30$3,283,549$788,052$226,565$2,268,932
Total$53,000,000$12,720,000$3,657,000$36,623,000
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