USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 $60,000,000 for a ticket purchased in Georgia, 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:

Georgia

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$51,927$552,945
2$948,240$314,921$54,524$578,795
3$995,652$332,464$57,250$605,939
4$1,045,435$350,883$60,113$634,439
5$1,097,707$370,224$63,118$664,365
6$1,152,592$390,531$66,274$695,787
7$1,210,222$411,854$69,588$728,780
8$1,270,733$434,243$73,067$763,422
9$1,334,270$457,752$76,720$799,797
10$1,400,983$482,436$80,557$837,990
11$1,471,032$508,354$84,584$878,094
12$1,544,584$535,568$88,814$920,202
13$1,621,813$564,143$93,254$964,416
14$1,702,904$594,147$97,917$1,010,840
15$1,788,049$625,650$102,813$1,059,586
16$1,877,451$658,729$107,953$1,110,769
17$1,971,324$693,462$113,351$1,164,511
18$2,069,890$729,932$119,019$1,220,940
19$2,173,384$768,224$124,970$1,280,190
20$2,282,054$808,432$131,218$1,342,403
21$2,396,156$850,650$137,779$1,407,727
22$2,515,964$894,979$144,668$1,476,317
23$2,641,762$941,524$151,901$1,548,337
24$2,773,850$990,397$159,496$1,623,957
25$2,912,543$1,041,713$167,471$1,703,359
26$3,058,170$1,095,595$175,845$1,786,730
27$3,211,079$1,152,171$184,637$1,874,270
28$3,371,633$1,211,576$193,869$1,966,187
29$3,540,214$1,273,951$203,562$2,062,700
30$3,717,225$1,339,445$213,740$2,164,039
Total$60,000,000$21,122,164$3,449,999$35,427,833

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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.