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Powerball Annuity Jackpot Analysis for Wisconsin (Aug. 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 $47,000,000 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:  Aug. 29, 2020
Jackpot:$47,000,000
Federal Tax:  24%
State Tax:7.65%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$169,780$54,117$483,520
2$742,788$178,269$56,823$507,696
3$779,928$187,183$59,664$533,081
4$818,924$196,542$62,648$559,735
5$859,870$206,369$65,780$587,721
6$902,864$216,687$69,069$617,107
7$948,007$227,522$72,523$647,963
8$995,407$238,898$76,149$680,361
9$1,045,178$250,843$79,956$714,379
10$1,097,437$263,385$83,954$750,098
11$1,152,308$276,554$88,152$787,603
12$1,209,924$290,382$92,559$826,983
13$1,270,420$304,901$97,187$868,332
14$1,333,941$320,146$102,046$911,749
15$1,400,638$336,153$107,149$957,336
16$1,470,670$352,961$112,506$1,005,203
17$1,544,204$370,609$118,132$1,055,463
18$1,621,414$389,139$124,038$1,108,236
19$1,702,484$408,596$130,240$1,163,648
20$1,787,609$429,026$136,752$1,221,831
21$1,876,989$450,477$143,590$1,282,922
22$1,970,839$473,001$150,769$1,347,068
23$2,069,380$496,651$158,308$1,414,422
24$2,172,849$521,484$166,223$1,485,143
25$2,281,492$547,558$174,534$1,559,400
26$2,395,567$574,936$183,261$1,637,370
27$2,515,345$603,683$192,424$1,719,238
28$2,641,112$633,867$202,045$1,805,200
29$2,773,168$665,560$212,147$1,895,460
30$2,911,826$698,838$222,755$1,990,233
Total$47,000,000$11,280,000$3,595,500$32,124,500
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