USA Mega

Kentucky Powerball Jackpot Annuity Payout Schedule for Mar 2, 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 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, Mar 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$14,264$247,152
2$370,866$100,178$14,835$255,854
3$385,701$105,370$15,428$264,903
4$401,129$110,770$16,045$274,314
5$417,174$116,386$16,687$284,101
6$433,861$122,226$17,354$294,280
7$451,215$128,300$18,049$304,867
8$469,264$134,617$18,771$315,876
9$488,034$141,187$19,521$327,326
10$507,556$148,019$20,302$339,234
11$527,858$155,125$21,114$351,619
12$548,972$162,515$21,959$364,498
13$570,931$170,201$22,837$377,893
14$593,769$178,194$23,751$391,824
15$617,519$186,670$24,701$406,149
16$642,220$195,809$25,689$420,722
17$667,909$205,314$26,716$435,878
18$694,625$215,199$27,785$451,641
19$722,410$225,480$28,896$468,034
20$751,307$236,171$30,052$485,083
21$781,359$247,291$31,254$502,814
22$812,613$258,855$32,505$521,254
23$845,118$270,881$33,805$540,432
24$878,922$283,389$35,157$560,376
25$914,079$296,397$36,563$581,119
26$950,643$309,925$38,026$602,691
27$988,668$323,995$39,547$625,127
28$1,028,215$338,627$41,129$648,459
29$1,069,344$353,845$42,774$672,725
30$1,112,117$369,671$44,485$697,961
Total$20,000,000$6,185,792$800,001$13,014,206

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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.