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Powerball Annuity Jackpot Analysis for Pennsylvania (Jan. 16, 2019 Drawing)

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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 $112,000,000 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:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$51,753$1,229,425
2$1,770,049$424,812$54,340$1,290,897
3$1,858,551$446,052$57,058$1,355,441
4$1,951,479$468,355$59,910$1,423,214
5$2,049,053$491,773$62,906$1,494,374
6$2,151,505$516,361$66,051$1,569,093
7$2,259,081$542,179$69,354$1,647,548
8$2,372,035$569,288$72,821$1,729,925
9$2,490,636$597,753$76,463$1,816,421
10$2,615,168$627,640$80,286$1,907,242
11$2,745,927$659,022$84,300$2,002,604
12$2,883,223$691,974$88,515$2,102,734
13$3,027,384$726,572$92,941$2,207,871
14$3,178,753$762,901$97,588$2,318,265
15$3,337,691$801,046$102,467$2,434,178
16$3,504,576$841,098$107,590$2,555,887
17$3,679,804$883,153$112,970$2,683,681
18$3,863,794$927,311$118,618$2,817,865
19$4,056,984$973,676$124,549$2,958,759
20$4,259,833$1,022,360$130,777$3,106,697
21$4,472,825$1,073,478$137,316$3,262,031
22$4,696,466$1,127,152$144,182$3,425,133
23$4,931,290$1,183,510$151,391$3,596,390
24$5,177,854$1,242,685$158,960$3,776,209
25$5,436,747$1,304,819$166,908$3,965,019
26$5,708,584$1,370,060$175,254$4,163,270
27$5,994,013$1,438,563$184,016$4,371,434
28$6,293,714$1,510,491$193,217$4,590,006
29$6,608,400$1,586,016$202,878$4,819,506
30$6,938,820$1,665,317$213,022$5,060,481
Total$112,000,000$26,880,000$3,438,400$81,681,600
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