USA Mega

California Powerball Jackpot Annuity Payout Schedule for Apr 17, 2024

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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 $80,700,000 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:Wed, Apr 17, 2024
Jackpot:$80,700,000
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$1,214,651$407,609$0$807,042
2$1,275,383$430,080$0$845,304
3$1,339,153$453,674$0$885,478
4$1,406,110$478,449$0$927,662
5$1,476,416$504,462$0$971,954
6$1,550,236$531,775$0$1,018,461
7$1,627,748$560,455$0$1,067,294
8$1,709,136$590,568$0$1,118,568
9$1,794,592$622,187$0$1,172,406
10$1,884,322$655,387$0$1,228,935
11$1,978,538$690,247$0$1,288,291
12$2,077,465$726,850$0$1,350,615
13$2,181,338$765,283$0$1,416,055
14$2,290,405$805,638$0$1,484,768
15$2,404,926$848,010$0$1,556,915
16$2,525,172$892,501$0$1,632,671
17$2,651,430$939,217$0$1,712,213
18$2,784,002$988,268$0$1,795,733
19$2,923,202$1,039,772$0$1,883,430
20$3,069,362$1,093,852$0$1,975,510
21$3,222,830$1,150,635$0$2,072,195
22$3,383,972$1,210,257$0$2,173,714
23$3,553,170$1,272,861$0$2,280,310
24$3,730,829$1,338,594$0$2,392,234
25$3,917,370$1,407,615$0$2,509,755
26$4,113,239$1,480,086$0$2,633,153
27$4,318,901$1,556,181$0$2,762,720
28$4,534,846$1,636,081$0$2,898,765
29$4,761,588$1,719,975$0$3,041,613
30$4,999,667$1,808,065$0$3,191,603
Total$80,700,000$28,604,634$0$52,095,367

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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.