USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Feb 5, 2024

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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 $214,800,000 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, Feb 5, 2024
Jackpot:$214,800,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,233,048$1,154,416$177,494$1,901,138
2$3,394,701$1,214,227$186,369$1,994,105
3$3,564,436$1,277,029$195,688$2,091,719
4$3,742,658$1,342,971$205,472$2,194,215
5$3,929,790$1,412,210$215,745$2,301,835
6$4,126,280$1,484,911$226,533$2,414,836
7$4,332,594$1,561,248$237,859$2,533,487
8$4,549,224$1,641,400$249,752$2,658,071
9$4,776,685$1,725,561$262,240$2,788,884
10$5,015,519$1,813,930$275,352$2,926,237
11$5,266,295$1,906,717$289,120$3,070,458
12$5,529,610$2,004,143$303,576$3,221,891
13$5,806,090$2,106,441$318,754$3,380,895
14$6,096,395$2,213,854$334,692$3,547,849
15$6,401,214$2,326,637$351,427$3,723,151
16$6,721,275$2,445,060$368,998$3,907,218
17$7,057,339$2,569,403$387,448$4,100,488
18$7,410,206$2,699,964$406,820$4,303,422
19$7,780,716$2,837,053$427,161$4,516,502
20$8,169,752$2,980,996$448,519$4,740,237
21$8,578,239$3,132,136$470,945$4,975,158
22$9,007,151$3,290,834$494,493$5,221,825
23$9,457,509$3,457,466$519,217$5,480,826
24$9,930,384$3,632,430$545,178$5,752,776
25$10,426,904$3,816,142$572,437$6,038,325
26$10,948,249$4,009,040$601,059$6,338,150
27$11,495,661$4,211,582$631,112$6,652,967
28$12,070,444$4,424,252$662,667$6,983,525
29$12,673,967$4,647,555$695,801$7,330,610
30$13,307,665$4,882,024$730,591$7,695,050
Total$214,800,000$78,221,632$11,792,519$124,785,850

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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.