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Powerball Annuity Jackpot Analysis for Oregon (Oct. 20, 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 $476,700,000 would be for a resident of Oregon, 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:

Oregon

Drawing Date:  Oct. 20, 2018
Jackpot:$476,700,000
Federal Tax:  24%
State Tax:8.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,175,019$1,722,005$574,002$4,879,013
2$7,533,770$1,808,105$602,702$5,122,964
3$7,910,458$1,898,510$632,837$5,379,112
4$8,305,982$1,993,436$664,479$5,648,068
5$8,721,280$2,093,107$697,702$5,930,471
6$9,157,345$2,197,763$732,588$6,226,994
7$9,615,212$2,307,651$769,217$6,538,344
8$10,095,973$2,423,033$807,678$6,865,261
9$10,600,771$2,544,185$848,062$7,208,524
10$11,130,810$2,671,394$890,465$7,568,951
11$11,687,350$2,804,964$934,988$7,947,398
12$12,271,718$2,945,212$981,737$8,344,768
13$12,885,303$3,092,473$1,030,824$8,762,006
14$13,529,569$3,247,097$1,082,366$9,200,107
15$14,206,047$3,409,451$1,136,484$9,660,112
16$14,916,350$3,579,924$1,193,308$10,143,118
17$15,662,167$3,758,920$1,252,973$10,650,273
18$16,445,275$3,946,866$1,315,622$11,182,787
19$17,267,539$4,144,209$1,381,403$11,741,926
20$18,130,916$4,351,420$1,450,473$12,329,023
21$19,037,462$4,568,991$1,522,997$12,945,474
22$19,989,335$4,797,440$1,599,147$13,592,748
23$20,988,802$5,037,312$1,679,104$14,272,385
24$22,038,241$5,289,178$1,763,059$14,986,004
25$23,140,153$5,553,637$1,851,212$15,735,304
26$24,297,162$5,831,319$1,943,773$16,522,070
27$25,512,020$6,122,885$2,040,962$17,348,173
28$26,787,620$6,429,029$2,143,010$18,215,582
29$28,127,001$6,750,480$2,250,160$19,126,361
30$29,533,352$7,088,004$2,362,668$20,082,679
Total$476,700,001$114,408,000$38,136,000$324,156,001
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