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Powerball Annuity Jackpot Analysis for North Dakota (Oct. 24, 2018 Drawing)

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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 $602,500,000 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:  Oct. 24, 2018
Jackpot:$602,500,000
Federal Tax:  24%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,068,490$2,176,438$262,986$6,629,066
2$9,521,914$2,285,259$276,136$6,960,519
3$9,998,010$2,399,522$289,942$7,308,545
4$10,497,911$2,519,499$304,439$7,673,973
5$11,022,806$2,645,473$319,661$8,057,671
6$11,573,946$2,777,747$335,644$8,460,555
7$12,152,644$2,916,634$352,427$8,883,583
8$12,760,276$3,062,466$370,048$9,327,762
9$13,398,290$3,215,589$388,550$9,794,150
10$14,068,204$3,376,369$407,978$10,283,857
11$14,771,614$3,545,187$428,377$10,798,050
12$15,510,195$3,722,447$449,796$11,337,952
13$16,285,705$3,908,569$472,285$11,904,850
14$17,099,990$4,103,998$495,900$12,500,093
15$17,954,989$4,309,197$520,695$13,125,097
16$18,852,739$4,524,657$546,729$13,781,352
17$19,795,375$4,750,890$574,066$14,470,419
18$20,785,144$4,988,435$602,769$15,193,941
19$21,824,401$5,237,856$632,908$15,953,637
20$22,915,622$5,499,749$664,553$16,751,320
21$24,061,403$5,774,737$697,781$17,588,885
22$25,264,473$6,063,473$732,670$18,468,330
23$26,527,697$6,366,647$769,303$19,391,746
24$27,854,081$6,684,979$807,768$20,361,333
25$29,246,785$7,019,228$848,157$21,379,400
26$30,709,125$7,370,190$890,565$22,448,370
27$32,244,581$7,738,699$935,093$23,570,789
28$33,856,810$8,125,634$981,847$24,749,328
29$35,549,650$8,531,916$1,030,940$25,986,794
30$37,327,133$8,958,512$1,082,487$27,286,134
Total$602,500,001$144,600,000$17,472,500$440,427,501
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