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Minnesota Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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 money, as well as deductions claimed.

State:

Minnesota

Drawing Date:Sat, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$196,702$1,103,202
2$2,076,850$726,622$204,570$1,145,658
3$2,159,924$757,360$212,753$1,189,812
4$2,246,321$789,326$221,263$1,235,732
5$2,336,174$822,572$230,113$1,283,489
6$2,429,621$857,147$239,318$1,333,156
7$2,526,806$893,106$248,890$1,384,809
8$2,627,878$930,503$258,846$1,438,529
9$2,732,993$969,395$269,200$1,494,398
10$2,842,313$1,009,843$279,968$1,552,501
11$2,956,005$1,051,910$291,166$1,612,929
12$3,074,245$1,095,658$302,813$1,675,774
13$3,197,215$1,141,157$314,926$1,741,132
14$3,325,104$1,188,476$327,523$1,809,105
15$3,458,108$1,237,688$340,624$1,879,797
16$3,596,432$1,288,868$354,249$1,953,316
17$3,740,289$1,342,095$368,419$2,029,776
18$3,889,901$1,397,451$383,155$2,109,295
19$4,045,497$1,455,022$398,481$2,191,994
20$4,207,317$1,514,895$414,421$2,278,001
21$4,375,610$1,577,163$430,998$2,367,449
22$4,550,634$1,641,922$448,237$2,460,474
23$4,732,659$1,709,272$466,167$2,557,221
24$4,921,966$1,779,315$484,814$2,657,837
25$5,118,844$1,852,160$504,206$2,762,478
26$5,323,598$1,927,919$524,374$2,871,305
27$5,536,542$2,006,708$545,349$2,984,484
28$5,758,004$2,088,649$567,163$3,102,191
29$5,988,324$2,173,868$589,850$3,224,606
30$6,227,857$2,262,495$613,444$3,351,918
Total$112,000,000$40,185,632$11,032,002$60,782,368

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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.