USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Feb 28, 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 $412,000,000 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 money, as well as deductions claimed.

State:

Georgia

Drawing Date:Wed, Feb 28, 2024
Jackpot:$412,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,201,191$2,252,629$340,445$3,608,117
2$6,511,251$2,367,351$357,468$3,786,433
3$6,836,813$2,487,809$375,341$3,973,664
4$7,178,654$2,614,290$394,108$4,170,256
5$7,537,587$2,747,095$413,814$4,376,678
6$7,914,466$2,886,540$434,504$4,593,422
7$8,310,190$3,032,958$456,229$4,821,002
8$8,725,699$3,186,696$479,041$5,059,962
9$9,161,984$3,348,122$502,993$5,310,869
10$9,620,083$3,517,618$528,143$5,574,322
11$10,101,087$3,695,590$554,550$5,850,948
12$10,606,142$3,882,460$582,277$6,141,404
13$11,136,449$4,078,674$611,391$6,446,384
14$11,693,271$4,284,698$641,961$6,766,612
15$12,277,935$4,501,024$674,059$7,102,852
16$12,891,831$4,728,165$707,762$7,455,905
17$13,536,423$4,966,664$743,150$7,826,609
18$14,213,244$5,217,088$780,307$8,215,849
19$14,923,906$5,480,033$819,322$8,624,551
20$15,670,102$5,756,125$860,289$9,053,688
21$16,453,606$6,046,022$903,303$9,504,281
22$17,276,287$6,350,414$948,468$9,977,405
23$18,140,101$6,670,025$995,892$10,474,184
24$19,047,106$7,005,617$1,045,686$10,995,803
25$19,999,461$7,357,988$1,097,970$11,543,502
26$20,999,435$7,727,979$1,152,869$12,118,587
27$22,049,407$8,116,468$1,210,512$12,722,426
28$23,151,877$8,524,382$1,271,038$13,356,456
29$24,309,470$8,952,692$1,334,590$14,022,189
30$25,524,944$9,402,417$1,401,319$14,721,208
Total$412,000,001$151,185,633$22,618,801$238,195,568

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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.