USA Mega

Arizona Powerball Jackpot Annuity Payout Schedule for May 24, 1997

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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 $17,000,000 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:Sat, May 24, 1997
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$303,112$76,464$7,578$219,070
2$315,236$80,707$7,881$226,648
3$327,846$85,121$8,196$234,529
4$340,959$89,711$8,524$242,725
5$354,598$94,484$8,865$251,249
6$368,782$99,448$9,220$260,114
7$383,533$104,611$9,588$269,333
8$398,874$109,981$9,972$278,922
9$414,829$115,565$10,371$288,894
10$431,422$121,373$10,786$299,264
11$448,679$127,413$11,217$310,050
12$466,627$133,694$11,666$321,267
13$485,292$140,227$12,132$332,932
14$504,703$147,021$12,618$345,065
15$524,891$154,087$13,122$357,682
16$545,887$161,435$13,647$370,805
17$567,723$169,078$14,193$384,452
18$590,431$177,026$14,761$398,645
19$614,049$185,386$15,351$413,312
20$638,611$194,474$15,965$428,172
21$664,155$203,925$16,604$443,626
22$690,721$213,755$17,268$459,699
23$718,350$223,977$17,959$476,414
24$747,084$234,609$18,677$493,798
25$776,967$245,666$19,424$511,878
26$808,046$257,165$20,201$530,680
27$840,368$269,124$21,009$550,235
28$873,983$281,561$21,850$570,572
29$908,942$294,496$22,724$591,722
30$945,300$307,949$23,632$613,719
Total$17,000,000$5,099,533$425,001$11,475,473

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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.