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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 $108,000,000 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, Jun 22, 2019
Jackpot:$108,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,625,555$390,133$47,141$1,188,281
2$1,706,833$409,640$49,498$1,247,695
3$1,792,174$430,122$51,973$1,310,079
4$1,881,783$451,628$54,572$1,375,583
5$1,975,872$474,209$57,300$1,444,363
6$2,074,666$497,920$60,165$1,516,581
7$2,178,399$522,816$63,174$1,592,410
8$2,287,319$548,957$66,332$1,672,030
9$2,401,685$576,404$69,649$1,755,632
10$2,521,769$605,225$73,131$1,843,413
11$2,647,858$635,486$76,788$1,935,584
12$2,780,251$667,260$80,627$2,032,363
13$2,919,263$700,623$84,659$2,133,981
14$3,065,226$735,654$88,892$2,240,681
15$3,218,488$772,437$93,336$2,352,715
16$3,379,412$811,059$98,003$2,470,350
17$3,548,383$851,612$102,903$2,593,868
18$3,725,802$894,192$108,048$2,723,561
19$3,912,092$938,902$113,451$2,859,739
20$4,107,697$985,847$119,123$3,002,726
21$4,313,081$1,035,140$125,079$3,152,862
22$4,528,735$1,086,896$131,333$3,310,506
23$4,755,172$1,141,241$137,900$3,476,031
24$4,992,931$1,198,303$144,795$3,649,832
25$5,242,577$1,258,219$152,035$3,832,324
26$5,504,706$1,321,129$159,636$4,023,940
27$5,779,942$1,387,186$167,618$4,225,137
28$6,068,939$1,456,545$175,999$4,436,394
29$6,372,385$1,529,373$184,799$4,658,214
30$6,691,005$1,605,841$194,039$4,891,124
Total$108,000,000$25,920,000$3,132,000$78,948,000
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