USA Mega

California Powerball Jackpot Annuity Payout Schedule for Nov 7, 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 $2,040,100,000 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:Mon, Nov 7, 2022
Jackpot:$2,040,100,000
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$30,706,433$11,324,335$0$19,382,098
2$32,241,755$11,892,404$0$20,349,350
3$33,853,842$12,488,876$0$21,364,965
4$35,546,535$13,115,173$0$22,431,362
5$37,323,860$13,772,783$0$23,551,077
6$39,190,054$14,463,275$0$24,726,779
7$41,149,558$15,188,291$0$25,961,266
8$43,207,035$15,949,558$0$27,257,477
9$45,367,387$16,748,888$0$28,618,499
10$47,635,756$17,588,185$0$30,047,571
11$50,017,544$18,469,446$0$31,548,098
12$52,518,421$19,394,771$0$33,123,650
13$55,144,342$20,366,361$0$34,777,980
14$57,901,559$21,386,532$0$36,515,027
15$60,796,637$22,457,711$0$38,338,926
16$63,836,469$23,582,449$0$40,254,021
17$67,028,291$24,763,423$0$42,264,869
18$70,379,706$26,003,446$0$44,376,260
19$73,898,691$27,305,471$0$46,593,220
20$77,593,627$28,672,597$0$48,921,030
21$81,473,307$30,108,079$0$51,365,228
22$85,546,973$31,615,335$0$53,931,638
23$89,824,322$33,197,954$0$56,626,368
24$94,315,537$34,859,704$0$59,455,833
25$99,031,314$36,604,541$0$62,426,773
26$103,982,881$38,436,621$0$65,546,260
27$109,182,025$40,360,304$0$68,821,721
28$114,641,124$42,380,171$0$72,260,953
29$120,373,181$44,501,032$0$75,872,149
30$126,391,841$46,727,936$0$79,663,905
Total$2,040,100,004$753,725,652$0$1,286,374,353

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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.