USA Mega

Florida Powerball Jackpot Annuity Payout Schedule for Mar 4, 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 $462,700,000 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:Mon, Mar 4, 2024
Jackpot:$462,700,000
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$6,964,299$2,534,978$0$4,429,321
2$7,312,514$2,663,818$0$4,648,696
3$7,678,140$2,799,099$0$4,879,040
4$8,062,047$2,941,145$0$5,120,902
5$8,465,149$3,090,293$0$5,374,856
6$8,888,406$3,246,898$0$5,641,508
7$9,332,827$3,411,334$0$5,921,493
8$9,799,468$3,583,991$0$6,215,477
9$10,289,442$3,765,281$0$6,524,160
10$10,803,914$3,955,636$0$6,848,278
11$11,344,109$4,155,508$0$7,188,601
12$11,911,315$4,365,374$0$7,545,941
13$12,506,880$4,585,734$0$7,921,147
14$13,132,225$4,817,111$0$8,315,114
15$13,788,836$5,060,057$0$8,728,779
16$14,478,278$5,315,150$0$9,163,127
17$15,202,191$5,582,999$0$9,619,193
18$15,962,301$5,864,239$0$10,098,062
19$16,760,416$6,159,542$0$10,600,874
20$17,598,437$6,469,609$0$11,128,827
21$18,478,359$6,795,180$0$11,683,178
22$19,402,276$7,137,030$0$12,265,246
23$20,372,390$7,495,972$0$12,876,418
24$21,391,010$7,872,861$0$13,518,148
25$22,460,560$8,268,595$0$14,191,965
26$23,583,589$8,684,116$0$14,899,473
27$24,762,768$9,120,412$0$15,642,356
28$26,000,906$9,578,523$0$16,422,383
29$27,300,951$10,059,540$0$17,241,412
30$28,665,999$10,564,607$0$18,101,392
Total$462,700,001$169,944,632$0$292,755,367

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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.