USA Mega

Florida Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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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 $179,700,000 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:Wed, Jun 6, 2012
Jackpot:$179,700,000
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$3,204,069$1,148,460$0$2,055,608
2$3,332,232$1,195,881$0$2,136,351
3$3,465,521$1,245,198$0$2,220,323
4$3,604,142$1,296,487$0$2,307,654
5$3,748,307$1,349,829$0$2,398,479
6$3,898,240$1,405,304$0$2,492,936
7$4,054,169$1,462,998$0$2,591,172
8$4,216,336$1,522,999$0$2,693,337
9$4,384,989$1,585,401$0$2,799,588
10$4,560,389$1,650,299$0$2,910,090
11$4,742,805$1,717,793$0$3,025,012
12$4,932,517$1,787,986$0$3,144,531
13$5,129,817$1,860,987$0$3,268,830
14$5,335,010$1,936,909$0$3,398,101
15$5,548,411$2,015,867$0$3,532,544
16$5,770,347$2,097,983$0$3,672,364
17$6,001,161$2,183,384$0$3,817,776
18$6,241,207$2,272,202$0$3,969,006
19$6,490,856$2,364,572$0$4,126,284
20$6,750,490$2,460,636$0$4,289,854
21$7,020,509$2,560,543$0$4,459,966
22$7,301,330$2,664,447$0$4,636,883
23$7,593,383$2,772,507$0$4,820,876
24$7,897,118$2,884,889$0$5,012,229
25$8,213,003$3,001,766$0$5,211,237
26$8,541,523$3,123,319$0$5,418,205
27$8,883,184$3,249,733$0$5,633,451
28$9,238,511$3,381,204$0$5,857,307
29$9,608,052$3,517,934$0$6,090,118
30$9,992,374$3,660,133$0$6,332,241
Total$179,700,000$65,377,650$0$114,322,353

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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.