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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 $108,000,000 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:  Sat, Jun 22, 2019
Jackpot:$108,000,000
Federal Tax:  24%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,625,555$390,133$81,278$1,154,144
2$1,706,833$409,640$85,342$1,211,851
3$1,792,174$430,122$89,609$1,272,444
4$1,881,783$451,628$94,089$1,336,066
5$1,975,872$474,209$98,794$1,402,869
6$2,074,666$497,920$103,733$1,473,013
7$2,178,399$522,816$108,920$1,546,663
8$2,287,319$548,957$114,366$1,623,997
9$2,401,685$576,404$120,084$1,705,196
10$2,521,769$605,225$126,088$1,790,456
11$2,647,858$635,486$132,393$1,879,979
12$2,780,251$667,260$139,013$1,973,978
13$2,919,263$700,623$145,963$2,072,677
14$3,065,226$735,654$153,261$2,176,311
15$3,218,488$772,437$160,924$2,285,126
16$3,379,412$811,059$168,971$2,399,383
17$3,548,383$851,612$177,419$2,519,352
18$3,725,802$894,192$186,290$2,645,319
19$3,912,092$938,902$195,605$2,777,585
20$4,107,697$985,847$205,385$2,916,465
21$4,313,081$1,035,140$215,654$3,062,288
22$4,528,735$1,086,896$226,437$3,215,402
23$4,755,172$1,141,241$237,759$3,376,172
24$4,992,931$1,198,303$249,647$3,544,981
25$5,242,577$1,258,219$262,129$3,722,230
26$5,504,706$1,321,129$275,235$3,908,341
27$5,779,942$1,387,186$288,997$4,103,758
28$6,068,939$1,456,545$303,447$4,308,946
29$6,372,385$1,529,373$318,619$4,524,394
30$6,691,005$1,605,841$334,550$4,750,613
Total$108,000,000$25,920,000$5,400,000$76,680,000
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