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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 $127,000,000 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:  Wed, Aug 24, 2016
Jackpot:$127,000,000
Federal Tax:  25%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,911,532$477,883$58,684$1,374,965
2$2,007,109$501,777$61,618$1,443,713
3$2,107,464$526,866$64,699$1,515,899
4$2,212,838$553,209$67,934$1,591,694
5$2,323,479$580,870$71,331$1,671,279
6$2,439,653$609,913$74,897$1,754,843
7$2,561,636$640,409$78,642$1,842,585
8$2,689,718$672,429$82,574$1,934,714
9$2,824,204$706,051$86,703$2,031,450
10$2,965,414$741,353$91,038$2,133,022
11$3,113,685$778,421$95,590$2,239,673
12$3,269,369$817,342$100,370$2,351,657
13$3,432,837$858,209$105,388$2,469,240
14$3,604,479$901,120$110,658$2,592,702
15$3,784,703$946,176$116,190$2,722,337
16$3,973,938$993,485$122,000$2,858,454
17$4,172,635$1,043,159$128,100$3,001,376
18$4,381,267$1,095,317$134,505$3,151,445
19$4,600,330$1,150,083$141,230$3,309,018
20$4,830,347$1,207,587$148,292$3,474,468
21$5,071,864$1,267,966$155,706$3,648,192
22$5,325,457$1,331,364$163,492$3,830,601
23$5,591,730$1,397,933$171,666$4,022,132
24$5,871,317$1,467,829$180,249$4,223,238
25$6,164,883$1,541,221$189,262$4,434,400
26$6,473,127$1,618,282$198,725$4,656,120
27$6,796,783$1,699,196$208,661$4,888,926
28$7,136,622$1,784,156$219,094$5,133,372
29$7,493,453$1,873,363$230,049$5,390,041
30$7,868,126$1,967,031$241,551$5,659,543
Total$127,000,000$31,750,000$3,898,900$91,351,100
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