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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 $304,000,000 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, Feb 23, 2019
Jackpot:$304,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,575,636$1,098,153$140,472$3,337,012
2$4,804,418$1,153,060$147,496$3,503,862
3$5,044,639$1,210,713$154,870$3,679,055
4$5,296,871$1,271,249$162,614$3,863,008
5$5,561,714$1,334,811$170,745$4,056,158
6$5,839,800$1,401,552$179,282$4,258,966
7$6,131,790$1,471,630$188,246$4,471,915
8$6,438,380$1,545,211$197,658$4,695,510
9$6,760,299$1,622,472$207,541$4,930,286
10$7,098,314$1,703,595$217,918$5,176,800
11$7,453,229$1,788,775$228,814$5,435,640
12$7,825,891$1,878,214$240,255$5,707,422
13$8,217,185$1,972,124$252,268$5,992,793
14$8,628,045$2,070,731$264,881$6,292,433
15$9,059,447$2,174,267$278,125$6,607,055
16$9,512,419$2,282,981$292,031$6,937,407
17$9,988,040$2,397,130$306,633$7,284,278
18$10,487,442$2,516,986$321,964$7,648,492
19$11,011,814$2,642,835$338,063$8,030,916
20$11,562,405$2,774,977$354,966$8,432,462
21$12,140,525$2,913,726$372,714$8,854,085
22$12,747,551$3,059,412$391,350$9,296,789
23$13,384,929$3,212,383$410,917$9,761,629
24$14,054,175$3,373,002$431,463$10,249,710
25$14,756,884$3,541,652$453,036$10,762,196
26$15,494,729$3,718,735$475,688$11,300,306
27$16,269,465$3,904,672$499,473$11,865,321
28$17,082,938$4,099,905$524,446$12,458,587
29$17,937,085$4,304,900$550,669$13,081,516
30$18,833,939$4,520,145$578,202$13,735,592
Total$304,000,001$72,960,000$9,332,800$221,707,200
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