USA Mega

Minnesota Powerball Jackpot Annuity Payout Schedule for Dec 3, 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 $42,200,000 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, Dec 3, 2011
Jackpot:$42,200,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,430$236,587$74,114$441,729
2$782,527$247,723$77,079$457,726
3$813,828$259,304$80,162$474,362
4$846,382$271,349$83,369$491,664
5$880,237$283,875$86,703$509,658
6$915,446$296,903$90,171$528,372
7$952,064$310,452$93,778$547,834
8$990,147$324,542$97,529$568,075
9$1,029,753$339,196$101,431$589,126
10$1,070,943$354,437$105,488$611,018
11$1,113,780$370,287$109,707$633,787
12$1,158,332$386,770$114,096$657,466
13$1,204,665$403,914$118,659$682,092
14$1,252,852$421,743$123,406$707,703
15$1,302,966$440,285$128,342$734,338
16$1,355,084$459,569$133,476$762,040
17$1,409,288$479,624$138,815$790,849
18$1,465,659$500,482$144,367$820,810
19$1,524,285$522,173$150,142$851,970
20$1,585,257$544,733$156,148$884,376
21$1,648,667$568,195$162,394$918,079
22$1,714,614$592,595$168,889$953,130
23$1,783,198$617,971$175,645$989,582
24$1,854,526$644,363$182,671$1,027,493
25$1,928,707$671,809$189,978$1,066,920
26$2,005,856$700,354$197,577$1,107,925
27$2,086,090$730,041$205,480$1,150,569
28$2,169,534$760,915$213,699$1,194,919
29$2,256,315$793,024$222,247$1,241,044
30$2,346,567$826,418$231,137$1,289,013
Total$42,200,000$14,359,633$4,156,699$23,683,669

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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.