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Powerball Annuity Jackpot Analysis for Montana (Nov. 7, 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 $71,000,000 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. 7, 2018
Jackpot:$71,000,000
Federal Tax:  24%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,068,652$256,476$73,737$738,438
2$1,122,084$269,300$77,424$775,360
3$1,178,189$282,765$81,295$814,128
4$1,237,098$296,904$85,360$854,835
5$1,298,953$311,749$89,628$897,577
6$1,363,901$327,336$94,109$942,455
7$1,432,096$343,703$98,815$989,578
8$1,503,701$360,888$103,755$1,039,057
9$1,578,886$378,933$108,943$1,091,010
10$1,657,830$397,879$114,390$1,145,560
11$1,740,721$417,773$120,110$1,202,838
12$1,827,757$438,662$126,115$1,262,980
13$1,919,145$460,595$132,421$1,326,129
14$2,015,103$483,625$139,042$1,392,436
15$2,115,858$507,806$145,994$1,462,058
16$2,221,651$533,196$153,294$1,535,161
17$2,332,733$559,856$160,959$1,611,919
18$2,449,370$587,849$169,007$1,692,514
19$2,571,838$617,241$177,457$1,777,140
20$2,700,430$648,103$186,330$1,865,997
21$2,835,452$680,508$195,646$1,959,297
22$2,977,224$714,534$205,428$2,057,262
23$3,126,085$750,260$215,700$2,160,125
24$3,282,390$787,774$226,485$2,268,131
25$3,446,509$827,162$237,809$2,381,538
26$3,618,835$868,520$249,700$2,500,615
27$3,799,776$911,946$262,185$2,625,645
28$3,989,765$957,544$275,294$2,756,928
29$4,189,253$1,005,421$289,058$2,894,774
30$4,398,716$1,055,692$303,511$3,039,513
Total$71,000,000$17,040,000$4,899,000$49,061,000
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