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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 $133,000,000 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, Sep 5, 2015
Jackpot:$133,000,000
Federal Tax:  25%
State Tax:3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,371,403$592,851$94,619$1,683,933
2$2,466,259$616,565$98,404$1,751,291
3$2,564,910$641,227$102,340$1,821,342
4$2,667,506$666,877$106,433$1,894,196
5$2,774,206$693,552$110,691$1,969,964
6$2,885,175$721,294$115,118$2,048,762
7$3,000,582$750,145$119,723$2,130,713
8$3,120,605$780,151$124,512$2,215,941
9$3,245,429$811,357$129,493$2,304,579
10$3,375,246$843,812$134,672$2,396,762
11$3,510,256$877,564$140,059$2,492,633
12$3,650,666$912,667$145,662$2,592,338
13$3,796,693$949,173$151,488$2,696,032
14$3,948,561$987,140$157,548$2,803,873
15$4,106,503$1,026,626$163,849$2,916,028
16$4,270,763$1,067,691$170,403$3,032,669
17$4,441,594$1,110,398$177,220$3,153,976
18$4,619,257$1,154,814$184,308$3,280,135
19$4,804,028$1,201,007$191,681$3,411,340
20$4,996,189$1,249,047$199,348$3,547,794
21$5,196,036$1,299,009$207,322$3,689,705
22$5,403,878$1,350,969$215,615$3,837,294
23$5,620,033$1,405,008$224,239$3,990,785
24$5,844,834$1,461,209$233,209$4,150,417
25$6,078,628$1,519,657$242,537$4,316,434
26$6,321,773$1,580,443$252,239$4,489,091
27$6,574,644$1,643,661$262,328$4,668,654
28$6,837,629$1,709,407$272,821$4,855,401
29$7,111,135$1,777,784$283,734$5,049,617
30$7,395,580$1,848,895$295,084$5,251,601
Total$133,000,000$33,250,000$5,306,700$94,443,300
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