USA Mega

Minnesota Powerball Jackpot Annuity Payout Schedule for Mar 2, 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 $20,000,000 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, Mar 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$35,125$226,291
2$370,866$100,178$36,530$234,158
3$385,701$105,370$37,992$242,339
4$401,129$110,770$39,511$250,848
5$417,174$116,386$41,092$259,697
6$433,861$122,226$42,735$268,900
7$451,215$128,300$44,445$278,470
8$469,264$134,617$46,222$288,424
9$488,034$141,187$48,071$298,776
10$507,556$148,019$49,994$309,542
11$527,858$155,125$51,994$320,739
12$548,972$162,515$54,074$332,384
13$570,931$170,201$56,237$344,494
14$593,769$178,194$58,486$357,089
15$617,519$186,670$60,826$370,024
16$642,220$195,809$63,259$383,152
17$667,909$205,314$65,789$396,806
18$694,625$215,199$68,421$411,006
19$722,410$225,480$71,157$425,773
20$751,307$236,171$74,004$441,132
21$781,359$247,291$76,964$457,104
22$812,613$258,855$80,042$473,716
23$845,118$270,881$83,244$490,992
24$878,922$283,389$86,574$508,960
25$914,079$296,397$90,037$527,645
26$950,643$309,925$93,638$547,079
27$988,668$323,995$97,384$567,289
28$1,028,215$338,627$101,279$588,308
29$1,069,344$353,845$105,330$610,168
30$1,112,117$369,671$109,544$632,903
Total$20,000,000$6,185,792$1,970,000$11,844,208

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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.