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Minnesota Powerball Jackpot Annuity Payout Schedule for Feb 6, 2023

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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 $747,000,000 for a ticket purchased in Minnesota, 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:

Minnesota

Drawing Date:Mon, Feb 6, 2023
Jackpot:$747,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$11,243,422$4,123,021$1,107,477$6,012,924
2$11,805,593$4,331,024$1,162,851$6,311,718
3$12,395,873$4,549,428$1,220,993$6,625,451
4$13,015,667$4,778,752$1,282,043$6,954,872
5$13,666,449$5,019,541$1,346,145$7,300,763
6$14,349,772$5,272,371$1,413,453$7,663,949
7$15,067,261$5,537,842$1,484,125$8,045,294
8$15,820,624$5,816,586$1,558,331$8,445,707
9$16,611,655$6,109,267$1,636,248$8,866,140
10$17,442,238$6,416,583$1,718,060$9,307,594
11$18,314,350$6,739,264$1,803,963$9,771,122
12$19,230,067$7,078,080$1,894,162$10,257,826
13$20,191,571$7,433,836$1,988,870$10,768,865
14$21,201,149$7,807,380$2,088,313$11,305,456
15$22,261,207$8,199,601$2,192,729$11,868,876
16$23,374,267$8,611,434$2,302,365$12,460,468
17$24,542,980$9,043,858$2,417,484$13,081,639
18$25,770,129$9,497,903$2,538,358$13,733,869
19$27,058,636$9,974,650$2,665,276$14,418,710
20$28,411,568$10,475,235$2,798,539$15,137,793
21$29,832,146$11,000,849$2,938,466$15,892,830
22$31,323,753$11,552,744$3,085,390$16,685,620
23$32,889,941$12,132,233$3,239,659$17,518,049
24$34,534,437$12,740,697$3,401,642$18,392,099
25$36,261,159$13,379,584$3,571,724$19,309,851
26$38,074,218$14,050,416$3,750,310$20,273,492
27$39,977,929$14,754,789$3,937,826$21,285,314
28$41,976,825$15,494,380$4,134,717$22,347,727
29$44,075,666$16,270,951$4,341,453$23,463,262
30$46,279,450$17,086,351$4,558,526$24,634,573
Total$747,000,001$275,278,650$73,579,498$398,141,853

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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.