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Powerball Annuity Jackpot Analysis for North Dakota

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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 $142,000,000 would be for a resident of North Dakota, 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:

North Dakota

Drawing Date:  Sat, Aug 27, 2016
Jackpot:$142,000,000
Federal Tax:  25%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,137,304$534,326$61,982$1,540,996
2$2,244,169$561,042$65,081$1,618,046
3$2,356,377$589,094$68,335$1,698,948
4$2,474,196$618,549$71,752$1,783,896
5$2,597,906$649,477$75,339$1,873,090
6$2,727,801$681,950$79,106$1,966,745
7$2,864,192$716,048$83,062$2,065,082
8$3,007,401$751,850$87,215$2,168,336
9$3,157,771$789,443$91,575$2,276,753
10$3,315,660$828,915$96,154$2,390,591
11$3,481,443$870,361$100,962$2,510,120
12$3,655,515$913,879$106,010$2,635,626
13$3,838,291$959,573$111,310$2,767,407
14$4,030,205$1,007,551$116,876$2,905,778
15$4,231,715$1,057,929$122,720$3,051,067
16$4,443,301$1,110,825$128,856$3,203,620
17$4,665,466$1,166,367$135,299$3,363,801
18$4,898,739$1,224,685$142,063$3,531,991
19$5,143,676$1,285,919$149,167$3,708,591
20$5,400,860$1,350,215$156,625$3,894,020
21$5,670,903$1,417,726$164,456$4,088,721
22$5,954,448$1,488,612$172,679$4,293,157
23$6,252,171$1,563,043$181,313$4,507,815
24$6,564,779$1,641,195$190,379$4,733,206
25$6,893,018$1,723,255$199,898$4,969,866
26$7,237,669$1,809,417$209,892$5,218,360
27$7,599,553$1,899,888$220,387$5,479,278
28$7,979,530$1,994,883$231,406$5,753,241
29$8,378,507$2,094,627$242,977$6,040,903
30$8,797,432$2,199,358$255,126$6,342,949
Total$142,000,000$35,500,000$4,118,000$102,382,000
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