USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Apr 24, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $28,200,000 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:Mon, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$23,302$282,216
2$445,673$126,360$24,467$294,845
3$467,957$134,160$25,691$308,106
4$491,354$142,349$26,975$322,030
5$515,922$150,948$28,324$336,651
6$541,718$159,976$29,740$352,002
7$568,804$169,456$31,227$368,121
8$597,244$179,410$32,789$385,045
9$627,107$190,217$34,428$402,461
10$658,462$201,819$36,150$420,494
11$691,385$214,000$37,957$439,428
12$725,954$226,791$39,855$459,309
13$762,252$240,221$41,848$480,183
14$800,365$254,323$43,940$502,102
15$840,383$269,129$46,137$525,116
16$882,402$284,677$48,444$549,282
17$926,522$301,001$50,866$574,655
18$972,848$318,142$53,409$601,297
19$1,021,491$336,139$56,080$629,272
20$1,072,565$355,037$58,884$658,644
21$1,126,193$374,879$61,828$689,486
22$1,182,503$395,714$64,919$721,870
23$1,241,628$417,590$68,165$755,873
24$1,303,710$440,560$71,574$791,576
25$1,368,895$464,679$75,152$829,064
26$1,437,340$490,004$78,910$868,426
27$1,509,207$516,594$82,855$909,757
28$1,584,667$544,515$86,998$953,154
29$1,663,901$573,831$91,348$998,722
30$1,747,096$604,613$95,916$1,046,567
Total$28,200,000$9,196,066$1,548,178$17,455,754

◄ Back to Jackpot Analysis

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.