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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 $90,000,000 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, Mar 4, 2015
Jackpot:$90,000,000
Federal Tax:  25%
State Tax:3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,604,709$401,177$64,028$1,139,504
2$1,668,897$417,224$66,589$1,185,084
3$1,735,653$433,913$69,253$1,232,487
4$1,805,079$451,270$72,023$1,281,787
5$1,877,282$469,321$74,904$1,333,058
6$1,952,374$488,093$77,900$1,386,381
7$2,030,469$507,617$81,016$1,441,836
8$2,111,687$527,922$84,256$1,499,509
9$2,196,155$549,039$87,627$1,559,490
10$2,284,001$571,000$91,132$1,621,869
11$2,375,361$593,840$94,777$1,686,744
12$2,470,376$617,594$98,568$1,754,214
13$2,569,191$642,298$102,511$1,824,382
14$2,671,958$667,990$106,611$1,897,358
15$2,778,837$694,709$110,876$1,973,252
16$2,889,990$722,498$115,311$2,052,182
17$3,005,590$751,397$119,923$2,134,269
18$3,125,813$781,453$124,720$2,219,640
19$3,250,846$812,711$129,709$2,308,426
20$3,380,880$845,220$134,897$2,400,763
21$3,516,115$879,029$140,293$2,496,793
22$3,656,759$914,190$145,905$2,596,665
23$3,803,030$950,757$151,741$2,700,531
24$3,955,151$988,788$157,811$2,808,553
25$4,113,357$1,028,339$164,123$2,920,895
26$4,277,891$1,069,473$170,688$3,037,731
27$4,449,007$1,112,252$177,515$3,159,240
28$4,626,967$1,156,742$184,616$3,285,609
29$4,812,046$1,203,011$192,001$3,417,034
30$5,004,528$1,251,132$199,681$3,553,715
Total$90,000,000$22,500,000$3,591,000$63,909,000
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