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Minnesota Powerball Jackpot Annuity Payout Schedule for May 11, 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 $65,200,000 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, May 11, 2011
Jackpot:$65,200,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,162,522$388,321$114,508$659,693
2$1,209,023$405,526$119,089$684,408
3$1,257,384$423,420$123,852$710,112
4$1,307,680$442,029$128,806$736,844
5$1,359,987$461,383$133,959$764,645
6$1,414,386$481,511$139,317$793,559
7$1,470,962$502,444$144,890$823,628
8$1,529,800$524,214$150,685$854,901
9$1,590,992$546,855$156,713$887,425
10$1,654,632$570,402$162,981$921,249
11$1,720,817$594,890$169,500$956,427
12$1,789,650$620,358$176,281$993,011
13$1,861,236$646,845$183,332$1,031,059
14$1,935,685$674,391$190,665$1,070,629
15$2,013,113$703,039$198,292$1,111,782
16$2,093,637$732,834$206,223$1,154,580
17$2,177,383$763,819$214,472$1,199,091
18$2,264,478$796,045$223,051$1,245,382
19$2,355,057$829,559$231,973$1,293,525
20$2,449,259$864,414$241,252$1,343,594
21$2,547,230$900,663$250,902$1,395,665
22$2,649,119$938,362$260,938$1,449,819
23$2,755,084$977,569$271,376$1,506,139
24$2,865,287$1,018,344$282,231$1,564,712
25$2,979,899$1,060,750$293,520$1,625,628
26$3,099,095$1,104,853$305,261$1,688,981
27$3,223,058$1,150,719$317,471$1,754,868
28$3,351,981$1,198,421$330,170$1,823,390
29$3,486,060$1,248,030$343,377$1,894,653
30$3,625,502$1,299,624$357,112$1,968,767
Total$65,200,000$22,869,634$6,422,199$35,908,166

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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.