USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Dec 21, 1996

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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 $41,600,000 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:Sat, Dec 21, 1996
Jackpot:$41,600,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$741,732$232,629$40,721$468,382
2$771,401$243,606$42,350$485,445
3$802,257$255,023$44,044$503,191
4$834,348$266,896$45,806$521,646
5$867,722$279,245$47,638$540,839
6$902,431$292,087$49,543$560,800
7$938,528$305,443$51,525$581,560
8$976,069$319,333$53,586$603,149
9$1,015,112$333,779$55,730$625,603
10$1,055,716$348,803$57,959$648,955
11$1,097,945$364,427$60,277$673,240
12$1,141,863$380,677$62,688$698,497
13$1,187,537$397,576$65,196$724,765
14$1,235,039$415,152$67,804$752,083
15$1,284,440$433,431$70,516$780,494
16$1,335,818$452,440$73,336$810,041
17$1,389,250$472,210$76,270$840,770
18$1,444,820$492,771$79,321$872,728
19$1,502,613$514,155$82,493$905,965
20$1,562,718$536,393$85,793$940,531
21$1,625,226$559,522$89,225$976,480
22$1,690,235$583,575$92,794$1,013,867
23$1,757,845$608,590$96,506$1,052,749
24$1,828,159$634,606$100,366$1,093,186
25$1,901,285$661,663$104,381$1,135,241
26$1,977,336$689,802$108,556$1,178,978
27$2,056,430$719,067$112,898$1,224,465
28$2,138,687$749,502$117,414$1,271,771
29$2,224,235$781,155$122,110$1,320,970
30$2,313,204$814,073$126,995$1,372,136
Total$41,600,000$14,137,631$2,283,841$25,178,527

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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.