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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 $135,000,000 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, Jan 18, 2017
Jackpot:$135,000,000
Federal Tax:  25%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,031,944$507,986$62,381$1,461,577
2$2,133,541$533,385$65,500$1,534,656
3$2,240,218$560,054$68,775$1,611,389
4$2,352,229$588,057$72,213$1,691,958
5$2,469,840$617,460$75,824$1,776,556
6$2,593,332$648,333$79,615$1,865,384
7$2,722,999$680,750$83,596$1,958,653
8$2,859,149$714,787$87,776$2,056,586
9$3,002,106$750,527$92,165$2,159,415
10$3,152,212$788,053$96,773$2,267,386
11$3,309,822$827,456$101,612$2,380,755
12$3,475,313$868,828$106,692$2,499,793
13$3,649,079$912,270$112,027$2,624,783
14$3,831,533$957,883$117,628$2,756,022
15$4,023,110$1,005,777$123,509$2,893,823
16$4,224,265$1,056,066$129,685$3,038,514
17$4,435,478$1,108,870$136,169$3,190,440
18$4,657,252$1,164,313$142,978$3,349,962
19$4,890,115$1,222,529$150,127$3,517,460
20$5,134,621$1,283,655$157,633$3,693,333
21$5,391,352$1,347,838$165,514$3,877,999
22$5,660,919$1,415,230$173,790$4,071,899
23$5,943,965$1,485,991$182,480$4,275,494
24$6,241,163$1,560,291$191,604$4,489,269
25$6,553,222$1,638,305$201,184$4,713,732
26$6,880,883$1,720,221$211,243$4,949,419
27$7,224,927$1,806,232$221,805$5,196,890
28$7,586,173$1,896,543$232,896$5,456,734
29$7,965,482$1,991,370$244,540$5,729,571
30$8,363,756$2,090,939$256,767$6,016,050
Total$135,000,000$33,750,000$4,144,500$97,105,500
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