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Powerball Annuity Jackpot Analysis for South Dakota

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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 $127,000,000 would be for a resident of South Dakota, 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:

South Dakota

Drawing Date:  Wed, Aug 24, 2016
Jackpot:$127,000,000
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$1,911,532$477,883$0$1,433,649
2$2,007,109$501,777$0$1,505,332
3$2,107,464$526,866$0$1,580,598
4$2,212,838$553,209$0$1,659,628
5$2,323,479$580,870$0$1,742,610
6$2,439,653$609,913$0$1,829,740
7$2,561,636$640,409$0$1,921,227
8$2,689,718$672,429$0$2,017,288
9$2,824,204$706,051$0$2,118,153
10$2,965,414$741,353$0$2,224,060
11$3,113,685$778,421$0$2,335,263
12$3,269,369$817,342$0$2,452,027
13$3,432,837$858,209$0$2,574,628
14$3,604,479$901,120$0$2,703,359
15$3,784,703$946,176$0$2,838,527
16$3,973,938$993,485$0$2,980,454
17$4,172,635$1,043,159$0$3,129,476
18$4,381,267$1,095,317$0$3,285,950
19$4,600,330$1,150,083$0$3,450,248
20$4,830,347$1,207,587$0$3,622,760
21$5,071,864$1,267,966$0$3,803,898
22$5,325,457$1,331,364$0$3,994,093
23$5,591,730$1,397,933$0$4,193,798
24$5,871,317$1,467,829$0$4,403,488
25$6,164,883$1,541,221$0$4,623,662
26$6,473,127$1,618,282$0$4,854,845
27$6,796,783$1,699,196$0$5,097,587
28$7,136,622$1,784,156$0$5,352,467
29$7,493,453$1,873,363$0$5,620,090
30$7,868,126$1,967,031$0$5,901,094
Total$127,000,000$31,750,000$0$95,250,000
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