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Powerball Annuity Jackpot Analysis for Oregon (Nov. 7, 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 $71,000,000 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:  Nov. 7, 2018
Jackpot:$71,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,068,652$256,476$85,492$726,683
2$1,122,084$269,300$89,767$763,017
3$1,178,189$282,765$94,255$801,168
4$1,237,098$296,904$98,968$841,227
5$1,298,953$311,749$103,916$883,288
6$1,363,901$327,336$109,112$927,452
7$1,432,096$343,703$114,568$973,825
8$1,503,701$360,888$120,296$1,022,516
9$1,578,886$378,933$126,311$1,073,642
10$1,657,830$397,879$132,626$1,127,324
11$1,740,721$417,773$139,258$1,183,691
12$1,827,757$438,662$146,221$1,242,875
13$1,919,145$460,595$153,532$1,305,019
14$2,015,103$483,625$161,208$1,370,270
15$2,115,858$507,806$169,269$1,438,783
16$2,221,651$533,196$177,732$1,510,722
17$2,332,733$559,856$186,619$1,586,258
18$2,449,370$587,849$195,950$1,665,571
19$2,571,838$617,241$205,747$1,748,850
20$2,700,430$648,103$216,034$1,836,292
21$2,835,452$680,508$226,836$1,928,107
22$2,977,224$714,534$238,178$2,024,512
23$3,126,085$750,260$250,087$2,125,738
24$3,282,390$787,774$262,591$2,232,025
25$3,446,509$827,162$275,721$2,343,626
26$3,618,835$868,520$289,507$2,460,808
27$3,799,776$911,946$303,982$2,583,848
28$3,989,765$957,544$319,181$2,713,040
29$4,189,253$1,005,421$335,140$2,848,692
30$4,398,716$1,055,692$351,897$2,991,127
Total$71,000,000$17,040,000$5,680,000$48,280,000
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