USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Oct 5, 2011

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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 $60,200,000 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:Wed, Oct 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$58,928$659,108
2$1,116,307$371,221$61,285$683,800
3$1,160,959$387,743$63,737$709,480
4$1,207,397$404,925$66,286$736,187
5$1,255,693$422,794$68,938$763,962
6$1,305,921$441,379$71,695$792,847
7$1,358,158$460,706$74,563$822,889
8$1,412,484$480,807$77,545$854,132
9$1,468,984$501,712$80,647$886,625
10$1,527,743$523,453$83,873$920,417
11$1,588,853$546,063$87,228$955,561
12$1,652,407$569,578$90,717$992,111
13$1,718,503$594,034$94,346$1,030,123
14$1,787,243$619,468$98,120$1,069,656
15$1,858,733$645,919$102,044$1,110,770
16$1,933,082$673,428$106,126$1,153,528
17$2,010,406$702,038$110,371$1,197,996
18$2,090,822$731,792$114,786$1,244,244
19$2,174,455$762,736$119,378$1,292,341
20$2,261,433$794,918$124,153$1,342,362
21$2,351,890$828,387$129,119$1,394,384
22$2,445,966$863,195$134,284$1,448,487
23$2,543,804$899,395$139,655$1,504,754
24$2,645,557$937,044$145,241$1,563,272
25$2,751,379$976,198$151,051$1,624,130
26$2,861,434$1,016,918$157,093$1,687,423
27$2,975,891$1,059,268$163,376$1,753,247
28$3,094,927$1,103,311$169,911$1,821,705
29$3,218,724$1,149,116$176,708$1,892,900
30$3,347,473$1,196,753$183,776$1,966,944
Total$60,200,000$21,019,634$3,304,980$35,875,385

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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.