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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 $189,000,000 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, Feb 17, 2016
Jackpot:$189,000,000
Federal Tax:  25%
State Tax:3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,844,721$711,180$113,504$2,020,037
2$2,986,957$746,739$119,180$2,121,038
3$3,136,305$784,076$125,139$2,227,090
4$3,293,121$823,280$131,396$2,338,445
5$3,457,776$864,444$137,965$2,455,367
6$3,630,665$907,666$144,864$2,578,135
7$3,812,199$953,050$152,107$2,707,042
8$4,002,809$1,000,702$159,712$2,842,394
9$4,202,949$1,050,737$167,698$2,984,514
10$4,413,096$1,103,274$176,083$3,133,740
11$4,633,751$1,158,438$184,887$3,290,427
12$4,865,439$1,216,360$194,131$3,454,948
13$5,108,711$1,277,178$203,838$3,627,695
14$5,364,146$1,341,037$214,029$3,809,080
15$5,632,353$1,408,088$224,731$3,999,534
16$5,913,971$1,478,493$235,967$4,199,511
17$6,209,670$1,552,417$247,766$4,409,486
18$6,520,153$1,630,038$260,154$4,629,961
19$6,846,161$1,711,540$273,162$4,861,459
20$7,188,469$1,797,117$286,820$5,104,532
21$7,547,892$1,886,973$301,161$5,359,758
22$7,925,287$1,981,322$316,219$5,627,746
23$8,321,551$2,080,388$332,030$5,909,134
24$8,737,629$2,184,407$348,631$6,204,590
25$9,174,510$2,293,628$366,063$6,514,820
26$9,633,236$2,408,309$384,366$6,840,561
27$10,114,898$2,528,724$403,584$7,182,589
28$10,620,642$2,655,161$423,764$7,541,718
29$11,151,675$2,787,919$444,952$7,918,804
30$11,709,258$2,927,315$467,199$8,314,744
Total$189,000,000$47,250,000$7,541,100$134,208,900
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