USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Jan 4, 2012

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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 $31,700,000 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, Jan 4, 2012
Jackpot:$31,700,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$565,214$168,200$31,030$365,984
2$587,823$176,113$32,271$379,439
3$611,336$184,382$33,562$393,391
4$635,789$193,430$34,905$407,455
5$661,221$202,839$36,301$422,080
6$687,669$212,625$37,753$437,291
7$715,176$222,803$39,263$453,110
8$743,783$233,388$40,834$469,562
9$773,535$244,396$42,467$486,672
10$804,476$255,844$44,166$504,466
11$836,655$267,750$45,932$522,973
12$870,121$280,133$47,770$542,219
13$904,926$293,010$49,680$562,235
14$941,123$306,403$51,668$583,052
15$978,768$320,332$53,734$604,702
16$1,017,919$334,818$55,884$627,217
17$1,058,635$349,883$58,119$650,634
18$1,100,981$365,551$60,444$674,986
19$1,145,020$381,845$62,862$700,313
20$1,190,821$398,792$65,376$726,653
21$1,238,454$416,416$67,991$754,047
22$1,287,992$434,745$70,711$782,536
23$1,339,512$453,807$73,539$812,165
24$1,393,092$473,632$76,481$842,980
25$1,448,816$494,250$79,540$875,026
26$1,506,768$515,692$82,722$908,355
27$1,567,039$537,992$86,030$943,016
28$1,629,721$561,184$89,472$979,065
29$1,694,910$585,304$93,051$1,016,555
30$1,762,706$610,389$96,773$1,055,544
Total$31,700,000$10,475,948$1,740,331$19,483,723

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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.