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Powerball Annuity Jackpot Analysis for North Dakota (Dec. 15, 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 $246,000,000 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:  Dec. 15, 2018
Jackpot:$246,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,702,653$888,637$107,377$2,706,639
2$3,887,786$933,069$112,746$2,841,971
3$4,082,175$979,722$118,383$2,984,070
4$4,286,284$1,028,708$124,302$3,133,273
5$4,500,598$1,080,143$130,517$3,289,937
6$4,725,628$1,134,151$137,043$3,454,434
7$4,961,909$1,190,858$143,895$3,627,156
8$5,210,005$1,250,401$151,090$3,808,513
9$5,470,505$1,312,921$158,645$3,998,939
10$5,744,030$1,378,567$166,577$4,198,886
11$6,031,232$1,447,496$174,906$4,408,830
12$6,332,793$1,519,870$183,651$4,629,272
13$6,649,433$1,595,864$192,834$4,860,735
14$6,981,905$1,675,657$202,475$5,103,772
15$7,331,000$1,759,440$212,599$5,358,961
16$7,697,550$1,847,412$223,229$5,626,909
17$8,082,427$1,939,783$234,390$5,908,254
18$8,486,549$2,036,772$246,110$6,203,667
19$8,910,876$2,138,610$258,415$6,513,850
20$9,356,420$2,245,541$271,336$6,839,543
21$9,824,241$2,357,818$284,903$7,181,520
22$10,315,453$2,475,709$299,148$7,540,596
23$10,831,226$2,599,494$314,106$7,917,626
24$11,372,787$2,729,469$329,811$8,313,507
25$11,941,426$2,865,942$346,301$8,729,182
26$12,538,497$3,009,239$363,616$9,165,642
27$13,165,422$3,159,701$381,797$9,623,924
28$13,823,693$3,317,686$400,887$10,105,120
29$14,514,878$3,483,571$420,931$10,610,376
30$15,240,622$3,657,749$441,978$11,140,895
Total$246,000,000$59,040,000$7,134,000$179,826,000
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