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Powerball Annuity Jackpot Analysis for Pennsylvania (Apr. 3, 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 $54,000,000 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:  Apr. 3, 2019
Jackpot:$54,000,000
Federal Tax:  24%
State Tax:3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$24,952$592,759
2$853,416$204,820$26,200$622,397
3$896,087$215,061$27,510$653,516
4$940,892$225,814$28,885$686,192
5$987,936$237,105$30,330$720,502
6$1,037,333$248,960$31,846$756,527
7$1,089,200$261,408$33,438$794,353
8$1,143,660$274,478$35,110$834,071
9$1,200,843$288,202$36,866$875,774
10$1,260,885$302,612$38,709$919,563
11$1,323,929$317,743$40,645$965,541
12$1,390,125$333,630$42,677$1,013,818
13$1,459,632$350,312$44,811$1,064,509
14$1,532,613$367,827$47,051$1,117,735
15$1,609,244$386,219$49,404$1,173,622
16$1,689,706$405,529$51,874$1,232,303
17$1,774,191$425,806$54,468$1,293,918
18$1,862,901$447,096$57,191$1,358,614
19$1,956,046$469,451$60,051$1,426,544
20$2,053,848$492,924$63,053$1,497,872
21$2,156,541$517,570$66,206$1,572,765
22$2,264,368$543,448$69,516$1,651,403
23$2,377,586$570,621$72,992$1,733,974
24$2,496,465$599,152$76,641$1,820,672
25$2,621,289$629,109$80,474$1,911,706
26$2,752,353$660,565$84,497$2,007,291
27$2,889,971$693,593$88,722$2,107,656
28$3,034,469$728,273$93,158$2,213,038
29$3,186,193$764,686$97,816$2,323,690
30$3,345,502$802,921$102,707$2,439,875
Total$54,000,000$12,960,000$1,657,800$39,382,200
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