USA Mega

California Powerball Jackpot Annuity Payout Schedule for Apr 16, 2011

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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 $42,300,000 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, Apr 16, 2011
Jackpot:$42,300,000
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$754,213$237,247$0$516,967
2$784,382$248,409$0$535,973
3$815,757$260,018$0$555,739
4$848,387$272,091$0$576,296
5$882,323$284,647$0$597,676
6$917,616$297,706$0$619,910
7$954,320$311,286$0$643,034
8$992,493$325,410$0$667,083
9$1,032,193$340,099$0$692,094
10$1,073,481$355,376$0$718,105
11$1,116,420$371,263$0$745,157
12$1,161,077$387,786$0$773,290
13$1,207,520$404,970$0$802,550
14$1,255,820$422,841$0$832,979
15$1,306,053$441,427$0$864,626
16$1,358,295$460,757$0$897,538
17$1,412,627$480,860$0$931,767
18$1,469,132$501,767$0$967,366
19$1,527,898$523,510$0$1,004,388
20$1,589,013$546,123$0$1,042,891
21$1,652,574$569,640$0$1,082,934
22$1,718,677$594,098$0$1,124,579
23$1,787,424$619,535$0$1,167,889
24$1,858,921$645,989$0$1,212,932
25$1,933,278$673,501$0$1,259,777
26$2,010,609$702,113$0$1,308,496
27$2,091,033$731,870$0$1,359,163
28$2,174,675$762,817$0$1,411,857
29$2,261,662$795,003$0$1,466,659
30$2,352,128$828,475$0$1,523,653
Total$42,300,000$14,396,634$0$27,903,368

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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.