USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Oct 9, 2010

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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 $20,000,000 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, Oct 9, 2010
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$19,577$241,839
2$370,866$100,178$20,361$250,328
3$385,701$105,370$21,175$259,156
4$401,129$110,770$22,022$268,337
5$417,174$116,386$22,903$277,885
6$433,861$122,226$23,819$287,816
7$451,215$128,300$24,772$298,143
8$469,264$134,617$25,763$308,884
9$488,034$141,187$26,793$320,055
10$507,556$148,019$27,865$331,672
11$527,858$155,125$28,979$343,754
12$548,972$162,515$30,139$356,319
13$570,931$170,201$31,344$369,386
14$593,769$178,194$32,598$382,977
15$617,519$186,670$33,902$396,948
16$642,220$195,809$35,258$411,153
17$667,909$205,314$36,668$425,927
18$694,625$215,199$38,135$441,291
19$722,410$225,480$39,660$457,270
20$751,307$236,171$41,247$473,889
21$781,359$247,291$42,897$491,172
22$812,613$258,855$44,612$509,146
23$845,118$270,881$46,397$527,839
24$878,922$283,389$48,253$547,281
25$914,079$296,397$50,183$567,499
26$950,643$309,925$52,190$588,527
27$988,668$323,995$54,278$610,395
28$1,028,215$338,627$56,449$633,139
29$1,069,344$353,845$58,707$656,792
30$1,112,117$369,671$61,055$681,391
Total$20,000,000$6,185,792$1,098,001$12,716,210

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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.