USA Mega

Idaho Powerball Jackpot Annuity Payout Schedule for Aug 13, 2011

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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 $20,000,000 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, Aug 13, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$20,683$240,734
2$370,866$100,178$21,510$249,178
3$385,701$105,370$22,371$257,960
4$401,129$110,770$23,265$267,093
5$417,174$116,386$24,196$276,592
6$433,861$122,226$25,164$286,471
7$451,215$128,300$26,170$296,745
8$469,264$134,617$27,217$307,429
9$488,034$141,187$28,306$318,542
10$507,556$148,019$29,438$330,098
11$527,858$155,125$30,616$342,117
12$548,972$162,515$31,840$354,617
13$570,931$170,201$33,114$367,617
14$593,769$178,194$34,439$381,136
15$617,519$186,670$35,816$395,033
16$642,220$195,809$37,249$409,162
17$667,909$205,314$38,739$423,856
18$694,625$215,199$40,288$439,138
19$722,410$225,480$41,900$455,031
20$751,307$236,171$43,576$471,560
21$781,359$247,291$45,319$488,750
22$812,613$258,855$47,132$506,627
23$845,118$270,881$49,017$525,220
24$878,922$283,389$50,978$544,556
25$914,079$296,397$53,017$564,666
26$950,643$309,925$55,137$585,580
27$988,668$323,995$57,343$607,330
28$1,028,215$338,627$59,636$629,951
29$1,069,344$353,845$62,022$653,477
30$1,112,117$369,671$64,503$677,943
Total$20,000,000$6,185,792$1,160,001$12,654,209

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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.