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Powerball Annuity Jackpot Analysis for Oregon (Jul. 18, 2020 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 $97,000,000 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:  Jul. 18, 2020
Jackpot:$97,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,459,989$350,397$116,799$992,793
2$1,532,989$367,917$122,639$1,042,432
3$1,609,638$386,313$128,771$1,094,554
4$1,690,120$405,629$135,210$1,149,282
5$1,774,626$425,910$141,970$1,206,746
6$1,863,357$447,206$149,069$1,267,083
7$1,956,525$469,566$156,522$1,330,437
8$2,054,351$493,044$164,348$1,396,959
9$2,157,069$517,697$172,566$1,466,807
10$2,264,922$543,581$181,194$1,540,147
11$2,378,169$570,760$190,253$1,617,155
12$2,497,077$599,298$199,766$1,698,012
13$2,621,931$629,263$209,754$1,782,913
14$2,753,027$660,727$220,242$1,872,059
15$2,890,679$693,763$231,254$1,965,662
16$3,035,213$728,451$242,817$2,063,945
17$3,186,973$764,874$254,958$2,167,142
18$3,346,322$803,117$267,706$2,275,499
19$3,513,638$843,273$281,091$2,389,274
20$3,689,320$885,437$295,146$2,508,738
21$3,873,786$929,709$309,903$2,634,174
22$4,067,475$976,194$325,398$2,765,883
23$4,270,849$1,025,004$341,668$2,904,177
24$4,484,391$1,076,254$358,751$3,049,386
25$4,708,611$1,130,067$376,689$3,201,856
26$4,944,042$1,186,570$395,523$3,361,948
27$5,191,244$1,245,899$415,300$3,530,046
28$5,450,806$1,308,193$436,064$3,706,548
29$5,723,346$1,373,603$457,868$3,891,875
30$6,009,514$1,442,283$480,761$4,086,469
Total$97,000,000$23,280,000$7,760,000$65,960,000
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