USA Mega

Idaho Powerball Jackpot Annuity Payout Schedule for Apr 24, 2023

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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 $28,200,000 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:Mon, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$24,618$280,900
2$445,673$126,360$25,849$293,464
3$467,957$134,160$27,141$306,656
4$491,354$142,349$28,499$320,507
5$515,922$150,948$29,923$335,051
6$541,718$159,976$31,420$350,322
7$568,804$169,456$32,991$366,357
8$597,244$179,410$34,640$383,194
9$627,107$190,217$36,372$400,517
10$658,462$201,819$38,191$418,453
11$691,385$214,000$40,100$437,285
12$725,954$226,791$42,105$457,058
13$762,252$240,221$44,211$477,820
14$800,365$254,323$46,421$499,621
15$840,383$269,129$48,742$522,511
16$882,402$284,677$51,179$546,546
17$926,522$301,001$53,738$571,783
18$972,848$318,142$56,425$598,281
19$1,021,491$336,139$59,246$626,105
20$1,072,565$355,037$62,209$655,320
21$1,126,193$374,879$65,319$685,995
22$1,182,503$395,714$68,585$718,204
23$1,241,628$417,590$72,014$752,024
24$1,303,710$440,560$75,615$787,534
25$1,368,895$464,679$79,396$824,820
26$1,437,340$490,004$83,366$863,971
27$1,509,207$516,594$87,534$905,079
28$1,584,667$544,515$91,911$948,242
29$1,663,901$573,831$96,506$993,563
30$1,747,096$604,613$101,332$1,041,151
Total$28,200,000$9,196,066$1,635,598$17,368,334

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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.