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Kentucky Powerball Jackpot Annuity Payout Schedule for Feb 24, 2024

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The tax information provided here is based on 2025 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 $375,900,000 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:Sat, Feb 24, 2024
Jackpot:$375,900,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,657,834$2,050,419$226,313$3,381,102
2$5,940,726$2,155,089$237,629$3,548,008
3$6,237,762$2,264,992$249,510$3,723,260
4$6,549,651$2,380,391$261,986$3,907,274
5$6,877,133$2,501,559$275,085$4,100,488
6$7,220,990$2,628,786$288,840$4,303,364
7$7,582,039$2,762,375$303,282$4,516,383
8$7,961,141$2,902,643$318,446$4,740,053
9$8,359,198$3,049,924$334,368$4,974,907
10$8,777,158$3,204,569$351,086$5,221,503
11$9,216,016$3,366,946$368,641$5,480,429
12$9,676,817$3,537,443$387,073$5,752,302
13$10,160,658$3,716,464$406,426$6,037,768
14$10,668,691$3,904,436$426,748$6,337,507
15$11,202,125$4,101,807$448,085$6,652,234
16$11,762,232$4,309,046$470,489$6,982,696
17$12,350,343$4,526,647$494,014$7,329,682
18$12,967,860$4,755,129$518,714$7,694,017
19$13,616,253$4,995,034$544,650$8,076,569
20$14,297,066$5,246,935$571,883$8,478,249
21$15,011,919$5,511,430$600,477$8,900,012
22$15,762,515$5,789,151$630,501$9,342,864
23$16,550,641$6,080,757$662,026$9,807,858
24$17,378,173$6,386,944$695,127$10,296,102
25$18,247,081$6,708,440$729,883$10,808,758
26$19,159,436$7,046,011$766,377$11,347,047
27$20,117,408$7,400,461$804,696$11,912,250
28$21,123,278$7,772,633$844,931$12,505,714
29$22,179,442$8,163,414$887,178$13,128,850
30$23,288,414$8,573,733$931,537$13,783,144
Total$375,900,001$137,793,608$15,036,001$223,070,394

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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.