USA Mega

Florida Powerball Jackpot Annuity Payout Schedule for Nov 7, 2022

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The tax information provided here is based on 2025 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 $2,040,100,000 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:Mon, Nov 7, 2022
Jackpot:$2,040,100,000
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$30,706,433$11,318,400$0$19,388,032
2$32,241,755$11,886,469$0$20,355,285
3$33,853,842$12,482,942$0$21,370,900
4$35,546,535$13,109,238$0$22,437,297
5$37,323,860$13,766,848$0$23,557,012
6$39,190,054$14,457,340$0$24,732,714
7$41,149,558$15,182,357$0$25,967,201
8$43,207,035$15,943,623$0$27,263,412
9$45,367,387$16,742,953$0$28,624,433
10$47,635,756$17,582,250$0$30,053,506
11$50,017,544$18,463,511$0$31,554,032
12$52,518,421$19,388,836$0$33,129,585
13$55,144,342$20,360,427$0$34,783,915
14$57,901,559$21,380,597$0$36,520,962
15$60,796,637$22,451,776$0$38,344,861
16$63,836,469$23,576,514$0$40,259,955
17$67,028,291$24,757,488$0$42,270,803
18$70,379,706$25,997,512$0$44,382,195
19$73,898,691$27,299,536$0$46,599,155
20$77,593,627$28,666,662$0$48,926,964
21$81,473,307$30,102,144$0$51,371,163
22$85,546,973$31,609,400$0$53,937,573
23$89,824,322$33,192,019$0$56,632,302
24$94,315,537$34,853,769$0$59,461,768
25$99,031,314$36,598,606$0$62,432,707
26$103,982,881$38,430,686$0$65,552,195
27$109,182,025$40,354,369$0$68,827,655
28$114,641,124$42,374,236$0$72,266,888
29$120,373,181$44,495,097$0$75,878,084
30$126,391,841$46,722,002$0$79,669,840
Total$2,040,100,004$753,547,607$0$1,286,552,394

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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.