USA Mega

California Powerball Jackpot Annuity Payout Schedule for Mar 27, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $122,200,000 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, Mar 27, 2023
Jackpot:$122,200,000
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$1,839,285$638,723$0$1,200,562
2$1,931,250$672,750$0$1,258,500
3$2,027,812$708,478$0$1,319,334
4$2,129,203$745,993$0$1,383,210
5$2,235,663$785,383$0$1,450,280
6$2,347,446$826,743$0$1,520,703
7$2,464,818$870,171$0$1,594,648
8$2,588,059$915,770$0$1,672,290
9$2,717,462$963,649$0$1,753,813
10$2,853,335$1,013,922$0$1,839,413
11$2,996,002$1,066,709$0$1,929,294
12$3,145,802$1,122,135$0$2,023,668
13$3,303,092$1,180,332$0$2,122,760
14$3,468,247$1,241,439$0$2,226,808
15$3,641,659$1,305,602$0$2,336,058
16$3,823,742$1,372,972$0$2,450,770
17$4,014,929$1,443,712$0$2,571,218
18$4,215,676$1,517,988$0$2,697,688
19$4,426,460$1,595,978$0$2,830,482
20$4,647,783$1,677,867$0$2,969,915
21$4,880,172$1,763,851$0$3,116,320
22$5,124,180$1,854,134$0$3,270,046
23$5,380,389$1,948,932$0$3,431,457
24$5,649,409$2,048,469$0$3,600,940
25$5,931,879$2,152,983$0$3,778,896
26$6,228,473$2,262,723$0$3,965,750
27$6,539,897$2,377,950$0$4,161,947
28$6,866,892$2,498,938$0$4,367,954
29$7,210,236$2,625,975$0$4,584,261
30$7,570,748$2,759,365$0$4,811,383
Total$122,200,000$43,959,636$0$78,240,368

◄ Back to Jackpot Analysis

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.