USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Apr 23, 2008

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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 $126,400,000 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, Apr 23, 2008
Jackpot:$126,400,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,253,725$792,066$123,729$1,337,929
2$2,343,874$825,421$128,679$1,389,774
3$2,437,628$860,110$133,826$1,443,692
4$2,535,134$896,187$139,179$1,499,768
5$2,636,539$933,707$144,746$1,558,086
6$2,742,000$972,728$150,536$1,618,737
7$2,851,681$1,013,310$156,557$1,681,814
8$2,965,748$1,055,514$162,820$1,747,414
9$3,084,378$1,099,407$169,332$1,815,638
10$3,207,753$1,145,056$176,106$1,886,591
11$3,336,063$1,192,531$183,150$1,960,382
12$3,469,505$1,241,905$190,476$2,037,125
13$3,608,286$1,293,253$198,095$2,116,937
14$3,752,617$1,346,656$206,019$2,199,942
15$3,902,722$1,402,195$214,259$2,286,267
16$4,058,831$1,459,955$222,830$2,376,046
17$4,221,184$1,520,026$231,743$2,469,415
18$4,390,031$1,582,499$241,013$2,566,519
19$4,565,632$1,647,472$250,653$2,667,507
20$4,748,258$1,715,043$260,679$2,772,535
21$4,938,188$1,785,317$271,107$2,881,764
22$5,135,715$1,858,402$281,951$2,995,362
23$5,341,144$1,934,411$293,229$3,113,504
24$5,554,790$2,013,460$304,958$3,236,372
25$5,776,981$2,095,671$317,156$3,364,154
26$6,008,061$2,181,170$329,843$3,497,048
27$6,248,383$2,270,090$343,036$3,635,257
28$6,498,318$2,362,566$356,758$3,778,995
29$6,758,251$2,458,741$371,028$3,928,483
30$7,028,581$2,558,763$385,869$4,083,949
Total$126,400,000$45,513,632$6,939,362$73,947,006

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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.