USA Mega

California Powerball Jackpot Annuity Payout Schedule for Nov 26, 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 $45,700,000 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, Nov 26, 2022
Jackpot:$45,700,000
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$687,851$212,692$0$475,158
2$722,243$225,418$0$496,825
3$758,355$238,779$0$519,576
4$796,273$252,809$0$543,464
5$836,087$267,540$0$568,547
6$877,891$283,007$0$594,884
7$921,786$299,248$0$622,537
8$967,875$316,301$0$651,573
9$1,016,269$334,207$0$682,061
10$1,067,082$353,008$0$714,074
11$1,120,436$372,749$0$747,687
12$1,176,458$393,477$0$782,981
13$1,235,281$415,242$0$820,039
14$1,297,045$438,094$0$858,951
15$1,361,897$462,090$0$899,807
16$1,429,992$487,285$0$942,707
17$1,501,492$513,740$0$987,752
18$1,576,566$541,517$0$1,035,049
19$1,655,394$570,684$0$1,084,711
20$1,738,164$601,308$0$1,136,856
21$1,825,072$633,465$0$1,191,608
22$1,916,326$667,228$0$1,249,098
23$2,012,142$702,680$0$1,309,462
24$2,112,749$739,905$0$1,372,844
25$2,218,387$778,991$0$1,439,396
26$2,329,306$820,031$0$1,509,275
27$2,445,772$863,123$0$1,582,648
28$2,568,060$908,370$0$1,659,690
29$2,696,463$955,879$0$1,740,584
30$2,831,286$1,005,764$0$1,825,523
Total$45,700,000$15,654,631$0$30,045,367

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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.