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Minnesota Powerball Jackpot Annuity Payout Schedule for Dec 7, 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 $53,200,000 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:Wed, Dec 7, 2011
Jackpot:$53,200,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$948,561$309,155$93,433$545,973
2$986,504$323,194$97,171$566,139
3$1,025,964$337,794$101,057$587,112
4$1,067,002$352,979$105,100$608,924
5$1,109,683$368,770$109,304$631,609
6$1,154,070$385,194$113,676$655,200
7$1,200,233$402,274$118,223$679,736
8$1,248,242$420,037$122,952$705,253
9$1,298,172$438,511$127,870$731,790
10$1,350,098$457,724$132,985$759,390
11$1,404,102$477,706$138,304$788,093
12$1,460,267$498,486$143,836$817,944
13$1,518,677$520,098$149,590$848,989
14$1,579,424$542,575$155,573$881,276
15$1,642,601$565,950$161,796$914,855
16$1,708,305$590,261$168,268$949,776
17$1,776,637$615,544$174,999$986,095
18$1,847,703$641,838$181,999$1,023,866
19$1,921,611$669,184$189,279$1,063,149
20$1,998,476$697,624$196,850$1,104,002
21$2,078,415$727,201$204,724$1,146,490
22$2,161,551$757,962$212,913$1,190,677
23$2,248,013$789,953$221,429$1,236,631
24$2,337,934$823,223$230,286$1,284,424
25$2,431,451$857,825$239,498$1,334,128
26$2,528,709$893,810$249,078$1,385,821
27$2,629,857$931,235$259,041$1,439,581
28$2,735,052$970,157$269,403$1,495,492
29$2,844,454$1,010,636$280,179$1,553,639
30$2,958,232$1,052,734$291,386$1,614,113
Total$53,200,000$18,429,634$5,240,202$29,530,167

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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.