USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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:Sat, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$109,634$1,190,270
2$2,076,850$726,622$114,019$1,236,209
3$2,159,924$757,360$118,580$1,283,985
4$2,246,321$789,326$123,323$1,333,671
5$2,336,174$822,572$128,256$1,385,346
6$2,429,621$857,147$133,386$1,439,087
7$2,526,806$893,106$138,722$1,494,978
8$2,627,878$930,503$144,270$1,553,105
9$2,732,993$969,395$150,041$1,613,556
10$2,842,313$1,009,843$156,043$1,676,426
11$2,956,005$1,051,910$162,285$1,741,811
12$3,074,245$1,095,658$168,776$1,809,811
13$3,197,215$1,141,157$175,527$1,880,531
14$3,325,104$1,188,476$182,548$1,954,079
15$3,458,108$1,237,688$189,850$2,030,570
16$3,596,432$1,288,868$197,444$2,110,120
17$3,740,289$1,342,095$205,342$2,192,853
18$3,889,901$1,397,451$213,556$2,278,894
19$4,045,497$1,455,022$222,098$2,368,378
20$4,207,317$1,514,895$230,982$2,461,440
21$4,375,610$1,577,163$240,221$2,558,225
22$4,550,634$1,641,922$249,830$2,658,882
23$4,732,659$1,709,272$259,823$2,763,565
24$4,921,966$1,779,315$270,216$2,872,435
25$5,118,844$1,852,160$281,025$2,985,660
26$5,323,598$1,927,919$292,266$3,103,414
27$5,536,542$2,006,708$303,956$3,225,878
28$5,758,004$2,088,649$316,114$3,353,240
29$5,988,324$2,173,868$328,759$3,485,697
30$6,227,857$2,262,495$341,909$3,623,453
Total$112,000,000$40,185,632$6,148,801$65,665,569

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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.