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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 $171,000,000 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, May 30, 2015
Jackpot:$171,000,000
Federal Tax:  25%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,048,947$762,237$0$2,286,710
2$3,170,905$792,726$0$2,378,179
3$3,297,741$824,435$0$2,473,306
4$3,429,651$857,413$0$2,572,238
5$3,566,837$891,709$0$2,675,128
6$3,709,510$927,378$0$2,782,133
7$3,857,891$964,473$0$2,893,418
8$4,012,206$1,003,052$0$3,009,155
9$4,172,694$1,043,174$0$3,129,521
10$4,339,602$1,084,901$0$3,254,702
11$4,513,186$1,128,297$0$3,384,890
12$4,693,714$1,173,428$0$3,520,285
13$4,881,462$1,220,366$0$3,661,097
14$5,076,721$1,269,180$0$3,807,541
15$5,279,790$1,319,947$0$3,959,842
16$5,490,981$1,372,745$0$4,118,236
17$5,710,620$1,427,655$0$4,282,965
18$5,939,045$1,484,761$0$4,454,284
19$6,176,607$1,544,152$0$4,632,455
20$6,423,671$1,605,918$0$4,817,754
21$6,680,618$1,670,155$0$5,010,464
22$6,947,843$1,736,961$0$5,210,882
23$7,225,757$1,806,439$0$5,419,318
24$7,514,787$1,878,697$0$5,636,090
25$7,815,378$1,953,845$0$5,861,534
26$8,127,994$2,031,998$0$6,095,995
27$8,453,113$2,113,278$0$6,339,835
28$8,791,238$2,197,809$0$6,593,428
29$9,142,887$2,285,722$0$6,857,166
30$9,508,603$2,377,151$0$7,131,452
Total$171,000,000$42,750,000$0$128,250,000
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