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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 $138,000,000 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, May 23, 2015
Jackpot:$138,000,000
Federal Tax:  25%
State Tax:3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,460,554$615,138$98,176$1,747,239
2$2,558,976$639,744$102,103$1,817,129
3$2,661,335$665,334$106,187$1,889,814
4$2,767,788$691,947$110,435$1,965,406
5$2,878,500$719,625$114,852$2,044,023
6$2,993,640$748,410$119,446$2,125,784
7$3,113,385$778,346$124,224$2,210,815
8$3,237,921$809,480$129,193$2,299,248
9$3,367,438$841,859$134,361$2,391,217
10$3,502,135$875,534$139,735$2,486,866
11$3,642,221$910,555$145,325$2,586,341
12$3,787,909$946,977$151,138$2,689,794
13$3,939,426$984,856$157,183$2,797,386
14$4,097,003$1,024,251$163,470$2,909,282
15$4,260,883$1,065,221$170,009$3,025,653
16$4,431,318$1,107,830$176,810$3,146,679
17$4,608,571$1,152,143$183,882$3,272,546
18$4,792,914$1,198,228$191,237$3,403,448
19$4,984,630$1,246,158$198,887$3,539,586
20$5,184,015$1,296,004$206,842$3,681,169
21$5,391,376$1,347,844$215,116$3,828,416
22$5,607,031$1,401,758$223,721$3,981,553
23$5,831,312$1,457,828$232,669$4,140,815
24$6,064,565$1,516,141$241,976$4,306,448
25$6,307,147$1,576,787$251,655$4,478,705
26$6,559,433$1,639,858$261,721$4,657,854
27$6,821,811$1,705,453$272,190$4,844,168
28$7,094,683$1,773,671$283,078$5,037,935
29$7,378,470$1,844,618$294,401$5,239,452
30$7,673,609$1,918,402$306,177$5,449,030
Total$138,000,000$34,500,000$5,506,200$97,993,800
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