USA Mega

Idaho Powerball Jackpot Annuity Payout Schedule for May 24, 1997

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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 $17,000,000 for a ticket purchased in Idaho, 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:

Idaho

Drawing Date:Sat, May 24, 1997
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 5.695%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$303,112$76,464$17,262$209,386
2$315,236$80,707$17,953$216,576
3$327,846$85,121$18,671$224,054
4$340,959$89,711$19,418$231,831
5$354,598$94,484$20,194$239,919
6$368,782$99,448$21,002$248,331
7$383,533$104,611$21,842$257,079
8$398,874$109,981$22,716$266,178
9$414,829$115,565$23,625$275,640
10$431,422$121,373$24,570$285,480
11$448,679$127,413$25,552$295,715
12$466,627$133,694$26,574$306,358
13$485,292$140,227$27,637$317,427
14$504,703$147,021$28,743$328,940
15$524,891$154,087$29,893$340,912
16$545,887$161,435$31,088$353,364
17$567,723$169,078$32,332$366,313
18$590,431$177,026$33,625$379,781
19$614,049$185,386$34,970$393,693
20$638,611$194,474$36,369$407,768
21$664,155$203,925$37,824$422,406
22$690,721$213,755$39,337$437,630
23$718,350$223,977$40,910$453,463
24$747,084$234,609$42,546$469,929
25$776,967$245,666$44,248$487,053
26$808,046$257,165$46,018$504,863
27$840,368$269,124$47,859$523,385
28$873,983$281,561$49,773$542,648
29$908,942$294,496$51,764$562,681
30$945,300$307,949$53,835$583,516
Total$17,000,000$5,099,533$968,150$10,932,319

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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.