USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Sep 20, 1997

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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 $19,200,000 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, Sep 20, 1997
Jackpot:$19,200,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$342,338$90,193$18,794$233,351
2$356,031$94,986$19,546$241,500
3$370,273$99,970$20,328$249,975
4$385,084$105,154$21,141$258,788
5$400,487$110,545$21,987$267,955
6$416,506$116,152$22,866$277,488
7$433,167$121,983$23,781$287,403
8$450,493$128,047$24,732$297,714
9$468,513$134,354$25,721$308,437
10$487,254$140,914$26,750$319,590
11$506,744$147,735$27,820$331,188
12$527,013$154,829$28,933$343,251
13$548,094$162,208$30,090$355,796
14$570,018$169,881$31,294$368,843
15$592,818$177,861$32,546$382,412
16$616,531$186,304$33,848$396,379
17$641,192$195,429$35,201$410,562
18$666,840$204,919$36,610$425,312
19$693,514$214,788$38,074$440,652
20$721,254$225,052$39,597$456,606
21$750,105$235,726$41,181$473,197
22$780,109$246,828$42,828$490,453
23$811,313$258,374$44,541$508,398
24$843,766$270,381$46,323$527,062
25$877,516$282,869$48,176$546,472
26$912,617$295,856$50,103$566,658
27$949,121$309,363$52,107$587,652
28$987,086$323,410$54,191$609,486
29$1,026,570$338,019$56,359$632,193
30$1,067,633$353,212$58,613$655,808
Total$19,200,000$5,895,342$1,054,081$12,250,581

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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.