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Powerball Annuity Jackpot Analysis for Wisconsin (Jul. 18, 2020 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 $97,000,000 would be for a resident of Wisconsin, 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:

Wisconsin

Drawing Date:  Jul. 18, 2020
Jackpot:$97,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,459,989$350,397$111,689$997,903
2$1,532,989$367,917$117,274$1,047,798
3$1,609,638$386,313$123,137$1,100,188
4$1,690,120$405,629$129,294$1,155,197
5$1,774,626$425,910$135,759$1,212,957
6$1,863,357$447,206$142,547$1,273,605
7$1,956,525$469,566$149,674$1,337,285
8$2,054,351$493,044$157,158$1,404,149
9$2,157,069$517,697$165,016$1,474,357
10$2,264,922$543,581$173,267$1,548,074
11$2,378,169$570,760$181,930$1,625,478
12$2,497,077$599,298$191,026$1,706,752
13$2,621,931$629,263$200,578$1,792,090
14$2,753,027$660,727$210,607$1,881,694
15$2,890,679$693,763$221,137$1,975,779
16$3,035,213$728,451$232,194$2,074,568
17$3,186,973$764,874$243,803$2,178,296
18$3,346,322$803,117$255,994$2,287,211
19$3,513,638$843,273$268,793$2,401,572
20$3,689,320$885,437$282,233$2,521,650
21$3,873,786$929,709$296,345$2,647,733
22$4,067,475$976,194$311,162$2,780,119
23$4,270,849$1,025,004$326,720$2,919,125
24$4,484,391$1,076,254$343,056$3,065,082
25$4,708,611$1,130,067$360,209$3,218,336
26$4,944,042$1,186,570$378,219$3,379,252
27$5,191,244$1,245,899$397,130$3,548,215
28$5,450,806$1,308,193$416,987$3,725,626
29$5,723,346$1,373,603$437,836$3,911,907
30$6,009,514$1,442,283$459,728$4,107,503
Total$97,000,000$23,280,000$7,420,500$66,299,500
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