USA Mega

Florida Powerball Jackpot Annuity Payout Schedule for Oct 8, 2011

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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 $74,100,000 for a ticket purchased in Florida, 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:

Florida

Drawing Date:Sat, Oct 8, 2011
Jackpot:$74,100,000
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$1,321,210$447,036$0$874,175
2$1,374,059$466,589$0$907,469
3$1,429,021$486,926$0$942,096
4$1,486,182$508,075$0$978,107
5$1,545,629$530,071$0$1,015,559
6$1,607,454$552,946$0$1,054,509
7$1,671,753$576,736$0$1,095,016
8$1,738,623$601,478$0$1,137,145
9$1,808,168$627,210$0$1,180,958
10$1,880,494$653,971$0$1,226,524
11$1,955,714$681,802$0$1,273,912
12$2,033,943$710,747$0$1,323,196
13$2,115,300$740,849$0$1,374,451
14$2,199,912$772,155$0$1,427,757
15$2,287,909$804,714$0$1,483,195
16$2,379,425$838,575$0$1,540,850
17$2,474,602$873,791$0$1,600,812
18$2,573,586$910,415$0$1,663,172
19$2,676,530$948,504$0$1,728,026
20$2,783,591$988,116$0$1,795,475
21$2,894,935$1,029,314$0$1,865,621
22$3,010,732$1,072,159$0$1,938,573
23$3,131,161$1,116,717$0$2,014,444
24$3,256,408$1,163,059$0$2,093,349
25$3,386,664$1,211,253$0$2,175,411
26$3,522,131$1,261,376$0$2,260,754
27$3,663,016$1,313,504$0$2,349,512
28$3,809,536$1,367,716$0$2,441,820
29$3,961,918$1,424,097$0$2,537,820
30$4,120,395$1,482,734$0$2,637,661
Total$74,100,000$26,162,635$0$47,937,369

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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.