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Kentucky Powerball Jackpot Annuity Payout Schedule for Dec 20, 2008

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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 $54,700,000 for a ticket purchased in Kentucky, 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:

Kentucky

Drawing Date:Sat, Dec 20, 2008
Jackpot:$54,700,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$975,306$319,051$39,012$617,243
2$1,014,319$333,486$40,573$640,260
3$1,054,891$348,498$42,196$664,198
4$1,097,087$364,110$43,883$689,094
5$1,140,971$380,347$45,639$714,985
6$1,186,609$397,233$47,464$741,912
7$1,234,074$414,795$49,363$769,916
8$1,283,437$433,059$51,337$799,040
9$1,334,774$452,054$53,391$829,329
10$1,388,165$471,809$55,527$860,830
11$1,443,692$492,354$57,748$893,590
12$1,501,439$513,720$60,058$927,662
13$1,561,497$535,942$62,460$963,095
14$1,623,957$559,052$64,958$999,947
15$1,688,915$583,086$67,557$1,038,272
16$1,756,472$608,082$70,259$1,078,131
17$1,826,731$634,078$73,069$1,119,583
18$1,899,800$661,114$75,992$1,162,694
19$1,975,792$689,231$79,032$1,207,529
20$2,054,824$718,472$82,193$1,254,158
21$2,137,016$748,884$85,481$1,302,652
22$2,222,497$780,512$88,900$1,353,086
23$2,311,397$813,405$92,456$1,405,536
24$2,403,853$847,613$96,154$1,460,085
25$2,500,007$883,190$100,000$1,516,816
26$2,600,007$920,190$104,000$1,575,817
27$2,704,008$958,671$108,160$1,637,177
28$2,812,168$998,690$112,487$1,700,991
29$2,924,655$1,040,310$116,986$1,767,358
30$3,041,641$1,083,595$121,666$1,836,380
Total$54,700,000$18,984,633$2,188,001$33,527,366

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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.