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Georgia Powerball Jackpot Annuity Payout Schedule for Dec 18, 2023

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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 $544,400,000 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:Mon, Dec 18, 2023
Jackpot:$544,400,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,194,001$2,989,968$449,851$4,754,182
2$8,603,701$3,141,557$472,343$4,989,801
3$9,033,886$3,300,726$495,960$5,237,200
4$9,485,581$3,467,853$520,758$5,496,970
5$9,959,860$3,643,336$546,796$5,769,727
6$10,457,853$3,827,593$574,136$6,056,123
7$10,980,746$4,021,064$602,843$6,356,839
8$11,529,783$4,224,207$632,985$6,672,590
9$12,106,272$4,437,508$664,634$7,004,129
10$12,711,585$4,661,474$697,866$7,352,245
11$13,347,165$4,896,639$732,759$7,717,767
12$14,014,523$5,143,561$769,397$8,101,564
13$14,715,249$5,402,830$807,867$8,504,552
14$15,451,012$5,675,062$848,261$8,927,689
15$16,223,562$5,960,906$890,674$9,371,983
16$17,034,740$6,261,042$935,207$9,838,491
17$17,886,477$6,576,184$981,968$10,328,325
18$18,780,801$6,907,084$1,031,066$10,842,651
19$19,719,841$7,254,529$1,082,619$11,382,693
20$20,705,833$7,619,346$1,136,750$11,949,737
21$21,741,125$8,002,404$1,193,588$12,545,133
22$22,828,181$8,404,615$1,253,267$13,170,299
23$23,969,590$8,826,936$1,315,930$13,826,724
24$25,168,069$9,270,373$1,381,727$14,515,969
25$26,426,473$9,735,983$1,450,813$15,239,677
26$27,747,797$10,224,873$1,523,354$15,999,570
27$29,135,187$10,738,207$1,599,522$16,797,458
28$30,591,946$11,277,208$1,679,498$17,635,240
29$32,121,543$11,843,159$1,763,473$18,514,912
30$33,727,620$12,437,407$1,851,646$19,438,567
Total$544,400,001$200,173,634$29,887,558$314,338,807

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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.