USA Mega

Arizona Powerball Jackpot Annuity Payout Schedule for May 20, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $88,000,000 for a ticket purchased in Arizona, 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Arizona

Drawing Date:Mon, May 20, 2024
Jackpot:$88,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,324,526$448,262$33,113$843,151
2$1,390,753$472,766$34,769$883,218
3$1,460,290$498,495$36,507$925,288
4$1,533,305$525,511$38,333$969,462
5$1,609,970$553,877$40,249$1,015,844
6$1,690,468$583,661$42,262$1,064,546
7$1,774,992$614,935$44,375$1,115,682
8$1,863,742$647,772$46,594$1,169,376
9$1,956,929$682,251$48,923$1,225,754
10$2,054,775$718,455$51,369$1,284,951
11$2,157,514$756,468$53,938$1,347,108
12$2,265,389$796,382$56,635$1,412,373
13$2,378,659$838,292$59,466$1,480,901
14$2,497,592$882,297$62,440$1,552,855
15$2,622,471$928,502$65,562$1,628,407
16$2,753,595$977,018$68,840$1,707,737
17$2,891,275$1,027,959$72,282$1,791,033
18$3,035,839$1,081,448$75,896$1,878,495
19$3,187,630$1,137,611$79,691$1,970,329
20$3,347,012$1,196,582$83,675$2,066,754
21$3,514,363$1,258,502$87,859$2,168,002
22$3,690,081$1,323,518$92,252$2,274,311
23$3,874,585$1,391,784$96,865$2,385,936
24$4,068,314$1,463,464$101,708$2,503,142
25$4,271,730$1,538,728$106,793$2,626,209
26$4,485,316$1,617,755$112,133$2,755,429
27$4,709,582$1,700,733$117,740$2,891,109
28$4,945,061$1,787,860$123,627$3,033,574
29$5,192,314$1,879,344$129,808$3,183,162
30$5,451,930$1,975,402$136,298$3,340,230
Total$88,000,000$31,305,634$2,200,002$54,494,368

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.