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Kentucky Powerball Jackpot Annuity Payout Schedule for Oct 12, 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 $87,200,000 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:Wed, Oct 12, 2011
Jackpot:$87,200,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,554,785$533,458$62,191$959,135
2$1,616,976$556,469$64,679$995,828
3$1,681,655$580,400$67,266$1,033,989
4$1,748,921$605,289$69,957$1,073,676
5$1,818,878$631,173$72,755$1,114,950
6$1,891,633$658,092$75,665$1,157,876
7$1,967,299$686,088$78,692$1,202,518
8$2,045,991$715,204$81,840$1,248,947
9$2,127,830$745,485$85,113$1,297,232
10$2,212,943$776,977$88,518$1,347,449
11$2,301,461$809,728$92,058$1,399,674
12$2,393,520$843,790$95,741$1,453,989
13$2,489,260$879,214$99,570$1,510,476
14$2,588,831$916,055$103,553$1,569,222
15$2,692,384$954,370$107,695$1,630,319
16$2,800,079$994,217$112,003$1,693,859
17$2,912,082$1,035,658$116,483$1,759,941
18$3,028,566$1,078,757$121,143$1,828,666
19$3,149,708$1,123,580$125,988$1,900,140
20$3,275,697$1,170,196$131,028$1,974,473
21$3,406,725$1,218,676$136,269$2,051,780
22$3,542,994$1,269,095$141,720$2,132,178
23$3,684,713$1,321,532$147,389$2,215,793
24$3,832,102$1,376,065$153,284$2,302,752
25$3,985,386$1,432,781$159,415$2,393,190
26$4,144,801$1,491,764$165,792$2,487,245
27$4,310,593$1,553,107$172,424$2,585,062
28$4,483,017$1,616,904$179,321$2,686,792
29$4,662,338$1,683,253$186,494$2,792,592
30$4,848,831$1,752,255$193,953$2,902,623
Total$87,200,000$31,009,632$3,487,999$52,702,366

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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.