USA Mega

Florida Powerball Jackpot Annuity Payout Schedule for Jun 24, 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 $84,000,000 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, Jun 24, 2024
Jackpot:$84,000,000
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$1,264,321$425,986$0$838,334
2$1,327,537$449,376$0$878,160
3$1,393,913$473,936$0$919,978
4$1,463,609$499,723$0$963,886
5$1,536,789$526,800$0$1,009,990
6$1,613,629$555,230$0$1,058,399
7$1,694,310$585,083$0$1,109,228
8$1,779,026$616,427$0$1,162,599
9$1,867,977$649,339$0$1,218,638
10$1,961,376$683,897$0$1,277,479
11$2,059,445$720,182$0$1,339,263
12$2,162,417$758,282$0$1,404,135
13$2,270,538$798,287$0$1,472,251
14$2,384,065$840,292$0$1,543,773
15$2,503,268$884,397$0$1,618,871
16$2,628,432$930,707$0$1,697,724
17$2,759,853$979,333$0$1,780,520
18$2,897,846$1,030,391$0$1,867,455
19$3,042,738$1,084,001$0$1,958,737
20$3,194,875$1,140,292$0$2,054,584
21$3,354,619$1,199,397$0$2,155,222
22$3,522,350$1,261,457$0$2,260,893
23$3,698,467$1,326,621$0$2,371,847
24$3,883,391$1,395,042$0$2,488,348
25$4,077,560$1,466,885$0$2,610,675
26$4,281,438$1,542,320$0$2,739,118
27$4,495,510$1,621,526$0$2,873,984
28$4,720,286$1,704,693$0$3,015,592
29$4,956,300$1,792,019$0$3,164,281
30$5,204,115$1,883,710$0$3,320,405
Total$84,000,000$29,825,631$0$54,174,369

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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.