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Minnesota Powerball Jackpot Annuity Payout Schedule for Oct 4, 2014

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The tax information provided here is based on 2025 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 $60,000,000 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:Sat, Oct 4, 2014
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,069,806$352,848$105,376$611,582
2$1,112,598$368,682$109,591$634,326
3$1,157,102$385,148$113,975$657,980
4$1,203,386$402,273$118,534$682,580
5$1,251,522$420,083$123,275$708,164
6$1,301,583$438,606$128,206$734,771
7$1,353,646$457,869$133,334$762,442
8$1,407,792$477,903$138,667$791,221
9$1,464,103$498,738$144,214$821,151
10$1,522,667$520,407$149,983$852,277
11$1,583,574$542,943$155,982$884,649
12$1,646,917$566,380$162,221$918,316
13$1,712,794$590,754$168,710$953,330
14$1,781,306$616,103$175,459$989,744
15$1,852,558$642,467$182,477$1,027,614
16$1,926,660$669,884$189,776$1,067,000
17$2,003,726$698,399$197,367$1,107,960
18$2,083,876$728,054$205,262$1,150,560
19$2,167,231$758,896$213,472$1,194,863
20$2,253,920$790,971$222,011$1,240,938
21$2,344,077$824,329$230,892$1,288,856
22$2,437,840$859,021$240,127$1,338,692
23$2,535,353$895,101$249,732$1,390,520
24$2,636,767$932,624$259,722$1,444,422
25$2,742,238$971,648$270,110$1,500,479
26$2,851,928$1,012,233$280,915$1,558,779
27$2,966,005$1,054,442$292,151$1,619,411
28$3,084,645$1,098,339$303,838$1,682,468
29$3,208,031$1,143,992$315,991$1,748,048
30$3,336,352$1,191,470$328,631$1,816,251
Total$60,000,000$20,910,607$5,910,001$33,179,394

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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.