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Kentucky Powerball Jackpot Annuity Payout Schedule for Dec 5, 2022

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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 $89,200,000 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:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$53,704$833,939
2$1,409,717$479,783$56,389$873,546
3$1,480,203$505,863$59,208$915,132
4$1,554,213$533,247$62,169$958,798
5$1,631,924$562,000$65,277$1,004,647
6$1,713,520$592,190$68,541$1,052,789
7$1,799,196$623,890$71,968$1,103,338
8$1,889,156$657,176$75,566$1,156,414
9$1,983,614$692,125$79,345$1,212,145
10$2,082,795$728,822$83,312$1,270,661
11$2,186,934$767,353$87,477$1,332,104
12$2,296,281$807,812$91,851$1,396,618
13$2,411,095$850,293$96,444$1,464,358
14$2,531,650$894,898$101,266$1,535,486
15$2,658,232$941,734$106,329$1,610,169
16$2,791,144$990,911$111,646$1,688,587
17$2,930,701$1,042,547$117,228$1,770,926
18$3,077,236$1,096,765$123,089$1,857,382
19$3,231,098$1,153,694$129,244$1,948,160
20$3,392,653$1,213,469$135,706$2,043,478
21$3,562,286$1,276,233$142,491$2,143,561
22$3,740,400$1,342,136$149,616$2,248,648
23$3,927,420$1,411,333$157,097$2,358,990
24$4,123,791$1,483,990$164,952$2,474,849
25$4,329,980$1,560,281$173,199$2,596,501
26$4,546,480$1,640,385$181,859$2,724,235
27$4,773,804$1,724,495$190,952$2,858,356
28$5,012,494$1,812,810$200,500$2,999,184
29$5,263,118$1,905,542$210,525$3,147,052
30$5,526,274$2,002,909$221,051$3,302,314
Total$89,200,000$31,749,631$3,568,001$53,882,367

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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.