USA Mega

Florida Powerball Jackpot Annuity Payout Schedule for Nov 19, 2022

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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 $92,900,000 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 prize money, as well as deductions claimed.

State:

Florida

Drawing Date:Sat, Nov 19, 2022
Jackpot:$92,900,000
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$1,398,278$480,318$0$917,960
2$1,468,192$506,186$0$962,006
3$1,541,602$533,348$0$1,008,254
4$1,618,682$561,867$0$1,056,815
5$1,699,616$591,813$0$1,107,803
6$1,784,597$623,256$0$1,161,341
7$1,873,827$656,271$0$1,217,556
8$1,967,518$690,937$0$1,276,581
9$2,065,894$727,336$0$1,338,558
10$2,169,189$765,555$0$1,403,634
11$2,277,648$805,685$0$1,471,963
12$2,391,530$847,821$0$1,543,709
13$2,511,107$892,065$0$1,619,042
14$2,636,662$938,520$0$1,698,142
15$2,768,495$987,298$0$1,781,197
16$2,906,920$1,038,515$0$1,868,405
17$3,052,266$1,092,293$0$1,959,973
18$3,204,880$1,148,760$0$2,056,119
19$3,365,123$1,208,051$0$2,157,073
20$3,533,380$1,270,305$0$2,263,074
21$3,710,049$1,335,673$0$2,374,376
22$3,895,551$1,404,309$0$2,491,242
23$4,090,329$1,476,377$0$2,613,952
24$4,294,845$1,552,048$0$2,742,797
25$4,509,587$1,631,502$0$2,878,085
26$4,735,067$1,714,930$0$3,020,137
27$4,971,820$1,802,528$0$3,169,292
28$5,220,411$1,894,507$0$3,325,904
29$5,481,432$1,991,085$0$3,490,347
30$5,755,503$2,092,491$0$3,663,012
Total$92,900,000$33,261,650$0$59,638,349

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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.