USA Mega

California Powerball Jackpot Annuity Payout Schedule for Dec 5, 2022

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The tax information provided here is based on 2022 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 $89,000,000 for a ticket purchased in California, 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 prize money, as well as deductions claimed.

State:

California

Drawing Date:Mon, Dec 5, 2022
Jackpot:$89,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,339,578$458,599$0$880,979
2$1,406,557$483,381$0$923,176
3$1,476,884$509,402$0$967,482
4$1,550,729$536,725$0$1,014,004
5$1,628,265$565,413$0$1,062,852
6$1,709,678$595,536$0$1,114,142
7$1,795,162$627,165$0$1,167,997
8$1,884,920$660,376$0$1,224,545
9$1,979,166$695,247$0$1,283,920
10$2,078,125$731,861$0$1,346,264
11$2,182,031$770,306$0$1,411,725
12$2,291,133$810,674$0$1,480,458
13$2,405,689$853,060$0$1,552,629
14$2,525,974$897,565$0$1,628,408
15$2,652,272$944,296$0$1,707,977
16$2,784,886$993,363$0$1,791,523
17$2,924,130$1,044,883$0$1,879,247
18$3,070,337$1,098,980$0$1,971,357
19$3,223,853$1,155,781$0$2,068,073
20$3,385,046$1,215,422$0$2,169,624
21$3,554,298$1,278,045$0$2,276,253
22$3,732,013$1,343,800$0$2,388,213
23$3,918,614$1,412,842$0$2,505,772
24$4,114,545$1,485,337$0$2,629,208
25$4,320,272$1,561,456$0$2,758,816
26$4,536,286$1,641,381$0$2,894,905
27$4,763,100$1,725,302$0$3,037,798
28$5,001,255$1,813,419$0$3,187,836
29$5,251,318$1,905,943$0$3,345,375
30$5,513,884$2,003,092$0$3,510,792
Total$89,000,000$31,818,652$0$57,181,350

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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.