USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Nov 22, 2008

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The tax information provided here is based on 2025 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 $57,600,000 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, Nov 22, 2008
Jackpot:$57,600,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,027,014$337,015$56,383$633,615
2$1,068,094$352,215$58,638$657,241
3$1,110,818$368,023$60,984$681,811
4$1,155,251$384,463$63,423$707,364
5$1,201,461$401,561$65,960$733,940
6$1,249,519$419,342$68,599$761,578
7$1,299,500$437,835$71,343$790,322
8$1,351,480$457,068$74,196$820,216
9$1,405,539$477,070$77,164$851,305
10$1,461,761$497,872$80,251$883,638
11$1,520,231$519,506$83,461$917,265
12$1,581,040$542,005$86,799$952,236
13$1,644,282$565,405$90,271$988,606
14$1,710,053$589,740$93,882$1,026,431
15$1,778,455$615,049$97,637$1,065,769
16$1,849,594$641,370$101,543$1,106,681
17$1,923,577$668,744$105,604$1,149,229
18$2,000,521$697,213$109,829$1,193,479
19$2,080,541$726,821$114,222$1,239,499
20$2,163,763$757,613$118,791$1,287,360
21$2,250,314$789,636$123,542$1,337,135
22$2,340,326$822,941$128,484$1,388,901
23$2,433,939$857,578$133,623$1,442,738
24$2,531,297$893,600$138,968$1,498,728
25$2,632,549$931,063$144,527$1,556,958
26$2,737,850$970,025$150,308$1,617,518
27$2,847,364$1,010,545$156,320$1,680,499
28$2,961,259$1,052,686$162,573$1,746,000
29$3,079,709$1,096,513$169,076$1,814,121
30$3,202,898$1,142,092$175,839$1,884,966
Total$57,600,000$20,022,609$3,162,240$34,415,149

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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.