USA Mega

California Powerball Jackpot Annuity Payout Schedule for Aug 13, 2005

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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 $10,000,000 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 money, as well as deductions claimed.

State:

California

Drawing Date:Sat, Aug 13, 2005
Jackpot:$10,000,000
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$178,301$35,835$0$142,466
2$185,433$37,546$0$147,887
3$192,850$39,399$0$153,452
4$200,564$41,867$0$158,697
5$208,587$44,434$0$164,153
6$216,930$47,104$0$169,826
7$225,608$49,881$0$175,727
8$234,632$52,769$0$181,863
9$244,017$55,781$0$188,236
10$253,778$59,197$0$194,581
11$263,929$62,750$0$201,179
12$274,486$66,445$0$208,041
13$285,466$70,288$0$215,178
14$296,884$74,284$0$222,600
15$308,760$78,441$0$230,319
16$321,110$82,763$0$238,347
17$333,954$87,259$0$246,696
18$347,313$91,934$0$255,378
19$361,205$96,797$0$264,409
20$375,653$101,853$0$273,800
21$390,679$107,113$0$283,567
22$406,307$112,582$0$293,725
23$422,559$118,270$0$304,289
24$439,461$124,186$0$315,275
25$457,040$130,339$0$326,701
26$475,321$136,737$0$338,584
27$494,334$143,392$0$350,942
28$514,107$150,312$0$363,795
29$534,672$157,510$0$377,162
30$556,059$164,995$0$391,063
Total$10,000,000$2,622,063$0$7,377,938

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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.