USA Mega

California Powerball Jackpot Annuity Payout Schedule for Nov 16, 2022

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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 $76,000,000 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:Wed, Nov 16, 2022
Jackpot:$76,000,000
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$1,143,909$381,434$0$762,475
2$1,201,105$402,596$0$798,508
3$1,261,160$424,817$0$836,343
4$1,324,218$448,148$0$876,069
5$1,390,429$472,646$0$917,782
6$1,459,950$498,369$0$961,581
7$1,532,948$525,378$0$1,007,569
8$1,609,595$553,738$0$1,055,857
9$1,690,075$583,515$0$1,106,559
10$1,774,578$614,782$0$1,159,797
11$1,863,307$647,611$0$1,215,696
12$1,956,473$682,083$0$1,274,390
13$2,054,296$718,277$0$1,336,019
14$2,157,011$756,282$0$1,400,729
15$2,264,862$796,187$0$1,468,675
16$2,378,105$838,087$0$1,540,018
17$2,497,010$882,081$0$1,614,929
18$2,621,861$928,276$0$1,693,584
19$2,752,954$976,781$0$1,776,173
20$2,890,601$1,027,710$0$1,862,891
21$3,035,131$1,081,186$0$1,953,945
22$3,186,888$1,137,336$0$2,049,552
23$3,346,232$1,196,294$0$2,149,939
24$3,513,544$1,258,199$0$2,255,345
25$3,689,221$1,323,200$0$2,366,022
26$3,873,682$1,391,450$0$2,482,232
27$4,067,366$1,463,113$0$2,604,253
28$4,270,735$1,538,360$0$2,732,375
29$4,484,271$1,617,368$0$2,866,903
30$4,708,485$1,700,327$0$3,008,158
Total$76,000,000$26,865,631$0$49,134,368

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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.