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Powerball Annuity Jackpot Analysis for Nebraska

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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 $80,000,000 would be for a resident of Nebraska, 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:

Nebraska

Drawing Date:  Wed, May 6, 2015
Jackpot:$80,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,426,408$356,602$71,320$998,486
2$1,483,464$370,866$74,173$1,038,425
3$1,542,803$385,701$77,140$1,079,962
4$1,604,515$401,129$80,226$1,123,160
5$1,668,696$417,174$83,435$1,168,087
6$1,735,443$433,861$86,772$1,214,810
7$1,804,861$451,215$90,243$1,263,403
8$1,877,056$469,264$93,853$1,313,939
9$1,952,138$488,034$97,607$1,366,496
10$2,030,223$507,556$101,511$1,421,156
11$2,111,432$527,858$105,572$1,478,003
12$2,195,889$548,972$109,794$1,537,123
13$2,283,725$570,931$114,186$1,598,608
14$2,375,074$593,769$118,754$1,662,552
15$2,470,077$617,519$123,504$1,729,054
16$2,568,880$642,220$128,444$1,798,216
17$2,671,635$667,909$133,582$1,870,145
18$2,778,501$694,625$138,925$1,944,951
19$2,889,641$722,410$144,482$2,022,749
20$3,005,226$751,307$150,261$2,103,658
21$3,125,435$781,359$156,272$2,187,805
22$3,250,453$812,613$162,523$2,275,317
23$3,380,471$845,118$169,024$2,366,330
24$3,515,690$878,922$175,784$2,460,983
25$3,656,317$914,079$182,816$2,559,422
26$3,802,570$950,643$190,129$2,661,799
27$3,954,673$988,668$197,734$2,768,271
28$4,112,860$1,028,215$205,643$2,879,002
29$4,277,374$1,069,344$213,869$2,994,162
30$4,448,469$1,112,117$222,423$3,113,928
Total$80,000,000$20,000,000$4,000,000$56,000,000
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