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Powerball Annuity Jackpot Analysis for Wisconsin (Jul. 29, 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 $126,000,000 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. 29, 2020
Jackpot:$126,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,896,481$455,155$145,081$1,296,245
2$1,991,305$477,913$152,335$1,361,057
3$2,090,870$501,809$159,952$1,429,110
4$2,195,414$526,899$167,949$1,500,565
5$2,305,184$553,244$176,347$1,575,593
6$2,420,443$580,906$185,164$1,654,373
7$2,541,466$609,952$194,422$1,737,092
8$2,668,539$640,449$204,143$1,823,946
9$2,801,966$672,472$214,350$1,915,144
10$2,942,064$706,095$225,068$2,010,901
11$3,089,167$741,400$236,321$2,111,446
12$3,243,626$778,470$248,137$2,217,018
13$3,405,807$817,394$260,544$2,327,869
14$3,576,097$858,263$273,571$2,444,263
15$3,754,902$901,177$287,250$2,566,476
16$3,942,647$946,235$301,613$2,694,800
17$4,139,780$993,547$316,693$2,829,539
18$4,346,769$1,043,225$332,528$2,971,016
19$4,564,107$1,095,386$349,154$3,119,567
20$4,792,313$1,150,155$366,612$3,275,546
21$5,031,928$1,207,663$384,943$3,439,323
22$5,283,525$1,268,046$404,190$3,611,289
23$5,547,701$1,331,448$424,399$3,791,854
24$5,825,086$1,398,021$445,619$3,981,446
25$6,116,340$1,467,922$467,900$4,180,518
26$6,422,157$1,541,318$491,295$4,389,544
27$6,743,265$1,618,384$515,860$4,609,022
28$7,080,428$1,699,303$541,653$4,839,473
29$7,434,450$1,784,268$568,735$5,081,446
30$7,806,172$1,873,481$597,172$5,335,519
Total$126,000,000$30,240,000$9,639,000$86,121,000
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