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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 $348,000,000 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, May 4, 2016
Jackpot:$348,000,000
Federal Tax:  25%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,309,475$151,899$3,776,525
2$5,499,794$1,374,949$159,494$3,965,352
3$5,774,784$1,443,696$167,469$4,163,619
4$6,063,523$1,515,881$175,842$4,371,800
5$6,366,699$1,591,675$184,634$4,590,390
6$6,685,034$1,671,259$193,866$4,819,910
7$7,019,286$1,754,822$203,559$5,060,905
8$7,370,251$1,842,563$213,737$5,313,951
9$7,738,763$1,934,691$224,424$5,579,648
10$8,125,701$2,031,425$235,645$5,858,631
11$8,531,986$2,132,997$247,428$6,151,562
12$8,958,586$2,239,646$259,799$6,459,140
13$9,406,515$2,351,629$272,789$6,782,097
14$9,876,841$2,469,210$286,428$7,121,202
15$10,370,683$2,592,671$300,750$7,477,262
16$10,889,217$2,722,304$315,787$7,851,125
17$11,433,677$2,858,419$331,577$8,243,681
18$12,005,361$3,001,340$348,155$8,655,866
19$12,605,629$3,151,407$365,563$9,088,659
20$13,235,911$3,308,978$383,841$9,543,092
21$13,897,706$3,474,427$403,033$10,020,246
22$14,592,592$3,648,148$423,185$10,521,259
23$15,322,221$3,830,555$444,344$11,047,322
24$16,088,332$4,022,083$466,562$11,599,688
25$16,892,749$4,223,187$489,890$12,179,672
26$17,737,387$4,434,347$514,384$12,788,656
27$18,624,256$4,656,064$540,103$13,428,089
28$19,555,469$4,888,867$567,109$14,099,493
29$20,533,242$5,133,311$595,464$14,804,467
30$21,559,904$5,389,976$625,237$15,544,691
Total$348,000,001$87,000,000$10,092,000$250,908,001
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