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Powerball Annuity Jackpot Analysis for Puerto Rico

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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 $136,000,000 would be for a resident of Puerto Rico, 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:

Puerto Rico

Drawing Date:  Sat, Apr 20, 2019
Jackpot:$136,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,046,995$491,279$0$1,555,716
2$2,149,345$515,843$0$1,633,502
3$2,256,812$541,635$0$1,715,177
4$2,369,653$568,717$0$1,800,936
5$2,488,135$597,152$0$1,890,983
6$2,612,542$627,010$0$1,985,532
7$2,743,169$658,361$0$2,084,809
8$2,880,328$691,279$0$2,189,049
9$3,024,344$725,843$0$2,298,502
10$3,175,561$762,135$0$2,413,427
11$3,334,339$800,241$0$2,534,098
12$3,501,056$840,254$0$2,660,803
13$3,676,109$882,266$0$2,793,843
14$3,859,915$926,380$0$2,933,535
15$4,052,910$972,699$0$3,080,212
16$4,255,556$1,021,333$0$3,234,223
17$4,468,334$1,072,400$0$3,395,934
18$4,691,750$1,126,020$0$3,565,730
19$4,926,338$1,182,321$0$3,744,017
20$5,172,655$1,241,437$0$3,931,218
21$5,431,288$1,303,509$0$4,127,779
22$5,702,852$1,368,684$0$4,334,167
23$5,987,995$1,437,119$0$4,550,876
24$6,287,394$1,508,975$0$4,778,420
25$6,601,764$1,584,423$0$5,017,341
26$6,931,852$1,663,645$0$5,268,208
27$7,278,445$1,746,827$0$5,531,618
28$7,642,367$1,834,168$0$5,808,199
29$8,024,485$1,925,876$0$6,098,609
30$8,425,710$2,022,170$0$6,403,539
Total$136,000,000$32,640,000$0$103,360,000
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