USA Mega

Minnesota Powerball Jackpot Annuity Payout Schedule for Nov 9, 2011

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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 $25,000,000 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:Wed, Nov 9, 2011
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$445,752$126,388$43,907$275,458
2$463,583$132,629$45,663$285,291
3$482,126$139,119$47,489$295,518
4$501,411$145,869$49,389$306,153
5$521,467$152,888$51,365$317,214
6$542,326$160,189$53,419$328,718
7$564,019$167,781$55,556$340,682
8$586,580$175,678$57,778$353,124
9$610,043$183,904$60,089$366,050
10$634,445$192,932$62,493$379,020
11$659,823$202,322$64,993$392,508
12$686,215$212,087$67,592$406,536
13$713,664$222,243$70,296$421,125
14$742,211$232,806$73,108$436,297
15$771,899$243,790$76,032$452,077
16$802,775$255,215$79,073$468,487
17$834,886$267,096$82,236$485,554
18$868,281$279,452$85,526$503,304
19$903,013$292,302$88,947$521,764
20$939,133$305,667$92,505$540,962
21$976,699$319,566$96,205$560,928
22$1,015,767$334,021$100,053$581,692
23$1,056,397$349,055$104,055$603,287
24$1,098,653$364,689$108,217$625,746
25$1,142,599$380,949$112,546$649,104
26$1,188,303$397,860$117,048$673,395
27$1,235,835$415,447$121,730$698,659
28$1,285,269$433,737$126,599$724,933
29$1,336,679$452,759$131,663$752,257
30$1,390,147$472,542$136,929$780,675
Total$25,000,000$8,010,982$2,462,501$14,526,518

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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.