USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for Apr 17, 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 $80,700,000 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, Apr 17, 2024
Jackpot:$80,700,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,214,651$407,609$66,684$740,358
2$1,275,383$430,080$70,019$775,285
3$1,339,153$453,674$73,519$811,959
4$1,406,110$478,449$77,195$850,466
5$1,476,416$504,462$81,055$890,899
6$1,550,236$531,775$85,108$933,353
7$1,627,748$560,455$89,363$977,930
8$1,709,136$590,568$93,832$1,024,736
9$1,794,592$622,187$98,523$1,073,882
10$1,884,322$655,387$103,449$1,125,486
11$1,978,538$690,247$108,622$1,179,670
12$2,077,465$726,850$114,053$1,236,562
13$2,181,338$765,283$119,755$1,296,300
14$2,290,405$805,638$125,743$1,359,024
15$2,404,926$848,010$132,030$1,424,885
16$2,525,172$892,501$138,632$1,494,039
17$2,651,430$939,217$145,564$1,566,650
18$2,784,002$988,268$152,842$1,642,892
19$2,923,202$1,039,772$160,484$1,722,946
20$3,069,362$1,093,852$168,508$1,807,002
21$3,222,830$1,150,635$176,933$1,895,262
22$3,383,972$1,210,257$185,780$1,987,934
23$3,553,170$1,272,861$195,069$2,085,241
24$3,730,829$1,338,594$204,823$2,187,412
25$3,917,370$1,407,615$215,064$2,294,692
26$4,113,239$1,480,086$225,817$2,407,336
27$4,318,901$1,556,181$237,108$2,525,612
28$4,534,846$1,636,081$248,963$2,649,802
29$4,761,588$1,719,975$261,411$2,780,202
30$4,999,667$1,808,065$274,482$2,917,121
Total$80,700,000$28,604,634$4,430,430$47,664,938

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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.