USA Mega

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

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$157,591$21,396$355,916
2$556,299$165,079$22,252$368,968
3$578,551$172,868$23,142$382,541
4$601,693$180,967$24,068$396,658
5$625,761$189,719$25,030$411,011
6$650,791$198,981$26,032$425,779
7$676,823$208,612$27,073$441,138
8$703,896$218,629$28,156$457,111
9$732,052$229,047$29,282$473,723
10$761,334$239,881$30,453$490,999
11$791,787$251,149$31,671$508,967
12$823,459$262,867$32,938$527,653
13$856,397$275,055$34,256$547,086
14$890,653$287,729$35,626$567,297
15$926,279$300,911$37,051$588,317
16$963,330$314,620$38,533$610,177
17$1,001,863$328,877$40,075$632,912
18$1,041,938$343,705$41,678$656,556
19$1,083,615$359,125$43,345$681,145
20$1,126,960$375,163$45,078$706,719
21$1,172,038$391,842$46,882$733,315
22$1,218,920$409,188$48,757$760,975
23$1,267,677$427,228$50,707$789,741
24$1,318,384$445,990$52,735$819,659
25$1,371,119$465,502$54,845$850,772
26$1,425,964$485,794$57,039$883,131
27$1,483,002$506,899$59,320$916,784
28$1,542,322$528,847$61,693$951,782
29$1,604,015$551,673$64,161$988,181
30$1,668,176$575,413$66,727$1,026,036
Total$30,000,000$9,848,951$1,200,001$18,951,049

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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.