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Kentucky Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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 prize money, as well as deductions claimed.

State:

Kentucky

Drawing Date:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$476,077$5,559,537
2$9,997,615$3,662,072$499,881$5,835,662
3$10,497,495$3,847,028$524,875$6,125,592
4$11,022,371$4,041,232$551,119$6,430,020
5$11,573,488$4,245,146$578,674$6,749,668
6$12,152,163$4,459,255$607,608$7,085,300
7$12,759,772$4,684,071$637,989$7,437,713
8$13,397,760$4,920,126$669,888$7,807,746
9$14,067,648$5,167,985$703,382$8,196,281
10$14,771,030$5,428,236$738,552$8,604,243
11$15,509,582$5,701,500$775,479$9,032,603
12$16,285,061$5,988,428$814,253$9,482,380
13$17,099,314$6,289,701$854,966$9,954,647
14$17,954,280$6,606,039$897,714$10,450,527
15$18,851,994$6,938,193$942,600$10,971,201
16$19,794,594$7,286,955$989,730$11,517,909
17$20,784,323$7,653,154$1,039,216$12,091,952
18$21,823,539$8,037,664$1,091,177$12,694,698
19$22,914,716$8,441,400$1,145,736$13,327,580
20$24,060,452$8,865,322$1,203,023$13,992,107
21$25,263,474$9,310,441$1,263,174$14,689,860
22$26,526,648$9,777,815$1,326,332$15,422,501
23$27,852,981$10,268,558$1,392,649$16,191,774
24$29,245,629$10,783,838$1,462,281$16,999,510
25$30,707,911$11,324,882$1,535,396$17,847,633
26$32,243,307$11,892,979$1,612,165$18,738,163
27$33,855,472$12,489,480$1,692,774$19,673,219
28$35,548,245$13,115,806$1,777,412$20,655,027
29$37,325,658$13,773,448$1,866,283$21,685,926
30$39,191,941$14,463,973$1,959,597$22,768,371
Total$632,600,001$232,950,651$31,630,002$368,019,350

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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.