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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 $478,000,000 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, Jul 30, 2016
Jackpot:$478,000,000
Federal Tax:  25%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,194,586$1,798,646$208,643$5,187,296
2$7,554,315$1,888,579$219,075$5,446,661
3$7,932,031$1,983,008$230,029$5,718,994
4$8,328,633$2,082,158$241,530$6,004,944
5$8,745,064$2,186,266$253,607$6,305,191
6$9,182,317$2,295,579$266,287$6,620,451
7$9,641,434$2,410,358$279,602$6,951,474
8$10,123,505$2,530,876$293,582$7,299,047
9$10,629,680$2,657,420$308,261$7,664,000
10$11,161,164$2,790,291$323,674$8,047,199
11$11,719,223$2,929,806$339,857$8,449,559
12$12,305,184$3,076,296$356,850$8,872,037
13$12,920,443$3,230,111$374,693$9,315,639
14$13,566,465$3,391,616$393,427$9,781,421
15$14,244,788$3,561,197$413,099$10,270,492
16$14,957,028$3,739,257$433,754$10,784,017
17$15,704,879$3,926,220$455,441$11,323,218
18$16,490,123$4,122,531$478,214$11,889,379
19$17,314,629$4,328,657$502,124$12,483,847
20$18,180,361$4,545,090$527,230$13,108,040
21$19,089,378$4,772,345$553,592$13,763,442
22$20,043,847$5,010,962$581,272$14,451,614
23$21,046,040$5,261,510$610,335$15,174,195
24$22,098,342$5,524,585$640,852$15,932,904
25$23,203,259$5,800,815$672,894$16,729,549
26$24,363,422$6,090,855$706,539$17,566,027
27$25,581,593$6,395,398$741,866$18,444,329
28$26,860,672$6,715,168$778,959$19,366,545
29$28,203,706$7,050,926$817,907$20,334,872
30$29,613,892$7,403,473$858,803$21,351,616
Total$478,000,001$119,500,000$13,862,000$344,638,001
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