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Powerball Annuity Jackpot Analysis for Pennsylvania

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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 $85,000,000 would be for a resident of Pennsylvania, 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:

Pennsylvania

Drawing Date:  Sat, Dec 10, 2016
Jackpot:$85,000,000
Federal Tax:  25%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,279,372$319,843$39,277$920,252
2$1,343,341$335,835$41,241$966,265
3$1,410,508$352,627$43,303$1,014,578
4$1,481,033$370,258$45,468$1,065,307
5$1,555,085$388,771$47,741$1,118,572
6$1,632,839$408,210$50,128$1,174,501
7$1,714,481$428,620$52,635$1,233,226
8$1,800,205$450,051$55,266$1,294,887
9$1,890,215$472,554$58,030$1,359,632
10$1,984,726$496,181$60,931$1,427,613
11$2,083,962$520,991$63,978$1,498,994
12$2,188,160$547,040$67,177$1,573,944
13$2,297,568$574,392$70,535$1,652,641
14$2,412,447$603,112$74,062$1,735,273
15$2,533,069$633,267$77,765$1,822,037
16$2,659,723$664,931$81,653$1,913,138
17$2,792,709$698,177$85,736$2,008,795
18$2,932,344$733,086$90,023$2,109,235
19$3,078,961$769,740$94,524$2,214,697
20$3,232,909$808,227$99,250$2,325,432
21$3,394,555$848,639$104,213$2,441,703
22$3,564,282$891,071$109,423$2,563,788
23$3,742,497$935,624$114,895$2,691,978
24$3,929,621$982,405$120,639$2,826,577
25$4,126,102$1,031,526$126,671$2,967,906
26$4,332,408$1,083,102$133,005$3,116,301
27$4,549,028$1,137,257$139,655$3,272,116
28$4,776,479$1,194,120$146,638$3,435,722
29$5,015,303$1,253,826$153,970$3,607,508
30$5,266,069$1,316,517$161,668$3,787,883
Total$85,000,000$21,250,000$2,609,500$61,140,500
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