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Minnesota Powerball Jackpot Annuity Payout Schedule for Jun 29, 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 $77,100,000 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, Jun 29, 2011
Jackpot:$77,100,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,374,701$466,827$135,408$772,466
2$1,429,689$487,173$140,824$801,692
3$1,486,876$508,332$146,457$832,087
4$1,546,351$530,338$152,316$863,698
5$1,608,205$553,224$158,408$896,573
6$1,672,534$577,025$164,745$930,764
7$1,739,435$601,779$171,334$966,322
8$1,809,012$627,522$178,188$1,003,302
9$1,881,373$654,296$185,315$1,041,762
10$1,956,628$682,140$192,728$1,081,760
11$2,034,893$711,098$200,437$1,123,358
12$2,116,288$741,214$208,454$1,166,620
13$2,200,940$772,536$216,793$1,211,612
14$2,288,978$805,109$225,464$1,258,404
15$2,380,537$838,986$234,483$1,307,068
16$2,475,758$874,218$243,862$1,357,678
17$2,574,789$910,860$253,617$1,410,312
18$2,677,780$948,966$263,761$1,465,052
19$2,784,891$988,598$274,312$1,521,982
20$2,896,287$1,029,814$285,284$1,581,189
21$3,012,138$1,072,679$296,696$1,642,764
22$3,132,624$1,117,259$308,563$1,706,802
23$3,257,929$1,163,621$320,906$1,773,401
24$3,388,246$1,211,839$333,742$1,842,665
25$3,523,776$1,261,985$347,092$1,914,699
26$3,664,727$1,314,137$360,976$1,989,615
27$3,811,316$1,368,375$375,415$2,067,527
28$3,963,769$1,424,782$390,431$2,148,555
29$4,122,319$1,483,446$406,048$2,232,825
30$4,287,212$1,544,456$422,290$2,320,466
Total$77,100,000$27,272,634$7,594,349$42,233,020

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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.