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Powerball Annuity Jackpot Analysis for North Dakota (Apr. 3, 2019 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 $54,000,000 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:  Apr. 3, 2019
Jackpot:$54,000,000
Federal Tax:  24%
State Tax:2.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$23,571$594,140
2$853,416$204,820$24,749$623,847
3$896,087$215,061$25,987$655,040
4$940,892$225,814$27,286$687,792
5$987,936$237,105$28,650$722,181
6$1,037,333$248,960$30,083$758,290
7$1,089,200$261,408$31,587$796,205
8$1,143,660$274,478$33,166$836,015
9$1,200,843$288,202$34,824$877,816
10$1,260,885$302,612$36,566$921,707
11$1,323,929$317,743$38,394$967,792
12$1,390,125$333,630$40,314$1,016,182
13$1,459,632$350,312$42,329$1,066,991
14$1,532,613$367,827$44,446$1,120,340
15$1,609,244$386,219$46,668$1,176,357
16$1,689,706$405,529$49,001$1,235,175
17$1,774,191$425,806$51,452$1,296,934
18$1,862,901$447,096$54,024$1,361,781
19$1,956,046$469,451$56,725$1,429,870
20$2,053,848$492,924$59,562$1,501,363
21$2,156,541$517,570$62,540$1,576,431
22$2,264,368$543,448$65,667$1,655,253
23$2,377,586$570,621$68,950$1,738,015
24$2,496,465$599,152$72,397$1,824,916
25$2,621,289$629,109$76,017$1,916,162
26$2,752,353$660,565$79,818$2,011,970
27$2,889,971$693,593$83,809$2,112,569
28$3,034,469$728,273$88,000$2,218,197
29$3,186,193$764,686$92,400$2,329,107
30$3,345,502$802,921$97,020$2,445,562
Total$54,000,000$12,960,000$1,566,000$39,474,000
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