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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 $422,000,000 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, Jul 27, 2016
Jackpot:$422,000,000
Federal Tax:  25%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,351,706$1,587,926$194,997$4,568,782
2$6,669,291$1,667,323$204,747$4,797,221
3$7,002,755$1,750,689$214,985$5,037,082
4$7,352,893$1,838,223$225,734$5,288,936
5$7,720,538$1,930,134$237,021$5,553,383
6$8,106,565$2,026,641$248,872$5,831,052
7$8,511,893$2,127,973$261,315$6,122,605
8$8,937,488$2,234,372$274,381$6,428,735
9$9,384,362$2,346,091$288,100$6,750,172
10$9,853,580$2,463,395$302,505$7,087,680
11$10,346,259$2,586,565$317,630$7,442,064
12$10,863,572$2,715,893$333,512$7,814,167
13$11,406,751$2,851,688$350,187$8,204,876
14$11,977,088$2,994,272$367,697$8,615,120
15$12,575,943$3,143,986$386,081$9,045,876
16$13,204,740$3,301,185$405,386$9,498,169
17$13,864,977$3,466,244$425,655$9,973,078
18$14,558,226$3,639,556$446,938$10,471,732
19$15,286,137$3,821,534$469,284$10,995,318
20$16,050,444$4,012,611$492,749$11,545,084
21$16,852,966$4,213,241$517,386$12,122,338
22$17,695,614$4,423,904$543,255$12,728,455
23$18,580,395$4,645,099$570,418$13,364,878
24$19,509,414$4,877,354$598,939$14,033,122
25$20,484,885$5,121,221$628,886$14,734,778
26$21,509,130$5,377,282$660,330$15,471,517
27$22,584,586$5,646,147$693,347$16,245,093
28$23,713,815$5,928,454$728,014$17,057,347
29$24,899,506$6,224,877$764,415$17,910,215
30$26,144,482$6,536,120$802,636$18,805,726
Total$422,000,001$105,500,000$12,955,400$303,544,601
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