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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 $60,000,000 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:  Wed, Sep 28, 2016
Jackpot:$60,000,000
Federal Tax:  25%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$225,772$26,189$651,125
2$948,240$237,060$27,499$683,681
3$995,652$248,913$28,874$717,865
4$1,045,435$261,359$30,318$753,759
5$1,097,707$274,427$31,833$791,447
6$1,152,592$288,148$33,425$831,019
7$1,210,222$302,555$35,096$872,570
8$1,270,733$317,683$36,851$916,198
9$1,334,270$333,567$38,694$962,008
10$1,400,983$350,246$40,629$1,010,109
11$1,471,032$367,758$42,660$1,060,614
12$1,544,584$386,146$44,793$1,113,645
13$1,621,813$405,453$47,033$1,169,327
14$1,702,904$425,726$49,384$1,227,793
15$1,788,049$447,012$51,853$1,289,183
16$1,877,451$469,363$54,446$1,353,642
17$1,971,324$492,831$57,168$1,421,324
18$2,069,890$517,472$60,027$1,492,391
19$2,173,384$543,346$63,028$1,567,010
20$2,282,054$570,513$66,180$1,645,361
21$2,396,156$599,039$69,489$1,727,629
22$2,515,964$628,991$72,963$1,814,010
23$2,641,762$660,441$76,611$1,904,711
24$2,773,850$693,463$80,442$1,999,946
25$2,912,543$728,136$84,464$2,099,943
26$3,058,170$764,543$88,687$2,204,941
27$3,211,079$802,770$93,121$2,315,188
28$3,371,633$842,908$97,777$2,430,947
29$3,540,214$885,054$102,666$2,552,494
30$3,717,225$929,306$107,800$2,680,119
Total$60,000,000$15,000,000$1,740,000$43,260,000
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