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Minnesota Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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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 $179,700,000 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 6, 2012
Jackpot:$179,700,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,204,069$1,143,693$315,601$1,744,775
2$3,332,232$1,191,113$328,225$1,812,893
3$3,465,521$1,240,430$341,354$1,883,737
4$3,604,142$1,291,720$355,008$1,957,414
5$3,748,307$1,345,061$369,208$2,034,038
6$3,898,240$1,400,536$383,977$2,113,727
7$4,054,169$1,458,230$399,336$2,196,603
8$4,216,336$1,518,232$415,309$2,282,795
9$4,384,989$1,580,634$431,921$2,372,434
10$4,560,389$1,645,532$449,198$2,465,659
11$4,742,805$1,713,025$467,166$2,562,613
12$4,932,517$1,783,219$485,853$2,663,445
13$5,129,817$1,856,220$505,287$2,768,310
14$5,335,010$1,932,141$525,498$2,877,370
15$5,548,411$2,011,100$546,518$2,990,792
16$5,770,347$2,093,216$568,379$3,108,752
17$6,001,161$2,178,617$591,114$3,231,429
18$6,241,207$2,267,434$614,759$3,359,014
19$6,490,856$2,359,804$639,349$3,491,702
20$6,750,490$2,455,869$664,923$3,629,698
21$7,020,509$2,555,776$691,520$3,773,213
22$7,301,330$2,659,680$719,181$3,922,469
23$7,593,383$2,767,739$747,948$4,077,695
24$7,897,118$2,880,121$777,866$4,239,131
25$8,213,003$2,996,999$808,981$4,407,023
26$8,541,523$3,118,551$841,340$4,581,632
27$8,883,184$3,244,966$874,994$4,763,225
28$9,238,511$3,376,437$909,993$4,952,081
29$9,608,052$3,513,167$946,393$5,148,492
30$9,992,374$3,655,366$984,249$5,352,759
Total$179,700,000$65,234,628$17,700,448$96,764,920

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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.