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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 $50,000,000 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 24, 2019
Jackpot:$50,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$180,617$21,825$550,130
2$790,200$189,648$22,916$577,636
3$829,710$199,130$24,062$606,518
4$871,196$209,087$25,265$636,844
5$914,756$219,541$26,528$668,686
6$960,493$230,518$27,854$702,121
7$1,008,518$242,044$29,247$737,227
8$1,058,944$254,147$30,709$774,088
9$1,111,891$266,854$32,245$812,793
10$1,167,486$280,197$33,857$853,432
11$1,225,860$294,206$35,550$896,104
12$1,287,153$308,917$37,327$940,909
13$1,351,511$324,363$39,194$987,954
14$1,419,086$340,581$41,154$1,037,352
15$1,490,041$357,610$43,211$1,089,220
16$1,564,543$375,490$45,372$1,143,681
17$1,642,770$394,265$47,640$1,200,865
18$1,724,908$413,978$50,022$1,260,908
19$1,811,154$434,677$52,523$1,323,953
20$1,901,711$456,411$55,150$1,390,151
21$1,996,797$479,231$57,907$1,459,659
22$2,096,637$503,193$60,802$1,532,641
23$2,201,469$528,352$63,843$1,609,274
24$2,311,542$554,770$67,035$1,689,737
25$2,427,119$582,509$70,386$1,774,224
26$2,548,475$611,634$73,906$1,862,935
27$2,675,899$642,216$77,601$1,956,082
28$2,809,694$674,327$81,481$2,053,886
29$2,950,178$708,043$85,555$2,156,580
30$3,097,687$743,445$89,833$2,264,409
Total$50,000,000$12,000,000$1,450,000$36,550,000
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