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California Powerball Jackpot Annuity Payout Schedule for Oct 25, 2023

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The tax information provided here is based on 2025 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 $103,400,000 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, Oct 25, 2023
Jackpot:$103,400,000
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$1,556,318$532,858$0$1,023,460
2$1,634,134$561,650$0$1,072,484
3$1,715,841$591,881$0$1,123,960
4$1,801,633$623,625$0$1,178,009
5$1,891,715$656,955$0$1,234,760
6$1,986,300$691,951$0$1,294,349
7$2,085,616$728,698$0$1,356,918
8$2,189,896$767,282$0$1,422,614
9$2,299,391$807,795$0$1,491,596
10$2,414,361$850,334$0$1,564,027
11$2,535,079$894,999$0$1,640,079
12$2,661,833$941,898$0$1,719,934
13$2,794,924$991,142$0$1,803,782
14$2,934,670$1,042,848$0$1,891,822
15$3,081,404$1,097,140$0$1,984,264
16$3,235,474$1,154,146$0$2,081,328
17$3,397,248$1,214,002$0$2,183,246
18$3,567,110$1,276,851$0$2,290,259
19$3,745,466$1,342,843$0$2,402,623
20$3,932,739$1,412,134$0$2,520,605
21$4,129,376$1,484,889$0$2,644,487
22$4,335,845$1,561,283$0$2,774,562
23$4,552,637$1,641,496$0$2,911,141
24$4,780,269$1,725,720$0$3,054,549
25$5,019,282$1,814,155$0$3,205,128
26$5,270,247$1,907,011$0$3,363,235
27$5,533,759$2,004,511$0$3,529,248
28$5,810,447$2,106,886$0$3,703,561
29$6,100,969$2,214,379$0$3,886,590
30$6,406,018$2,327,247$0$4,078,771
Total$103,400,000$36,968,609$0$66,431,391

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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.