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Powerball Annuity Jackpot Analysis for North Dakota (Oct. 27, 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 $687,800,000 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. 27, 2018
Jackpot:$687,800,000
Federal Tax:  24%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,352,377$2,484,570$300,219$7,567,588
2$10,869,996$2,608,799$315,230$7,945,967
3$11,413,496$2,739,239$330,991$8,343,265
4$11,984,171$2,876,201$347,541$8,760,429
5$12,583,379$3,020,011$364,918$9,198,450
6$13,212,548$3,171,011$383,164$9,658,373
7$13,873,176$3,329,562$402,322$10,141,291
8$14,566,834$3,496,040$422,438$10,648,356
9$15,295,176$3,670,842$443,560$11,180,774
10$16,059,935$3,854,384$465,738$11,739,812
11$16,862,932$4,047,104$489,025$12,326,803
12$17,706,078$4,249,459$513,476$12,943,143
13$18,591,382$4,461,932$539,150$13,590,300
14$19,520,951$4,685,028$566,108$14,269,815
15$20,496,998$4,919,280$594,413$14,983,306
16$21,521,849$5,165,244$624,134$15,732,471
17$22,597,941$5,423,506$655,340$16,519,095
18$23,727,838$5,694,681$688,107$17,345,049
19$24,914,230$5,979,415$722,513$18,212,302
20$26,159,941$6,278,386$758,638$19,122,917
21$27,467,938$6,592,305$796,570$20,079,063
22$28,841,335$6,921,920$836,399$21,083,016
23$30,283,402$7,268,016$878,219$22,137,167
24$31,797,572$7,631,417$922,130$23,244,025
25$33,387,450$8,012,988$968,236$24,406,226
26$35,056,823$8,413,638$1,016,648$25,626,538
27$36,809,665$8,834,319$1,067,480$26,907,865
28$38,650,147$9,276,035$1,120,854$28,253,258
29$40,582,655$9,739,837$1,176,897$29,665,921
30$42,611,788$10,226,829$1,235,742$31,149,217
Total$687,800,001$165,072,000$19,946,200$502,781,801
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