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Minnesota Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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The tax information provided here is based on 2021 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 $285,600,000 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 prize money, as well as deductions claimed.

State:

Minnesota

Drawing Date:Sat, Jun 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$423,421$2,320,681
2$4,513,624$1,634,113$444,592$2,434,919
3$4,739,306$1,717,615$466,822$2,554,869
4$4,976,271$1,805,293$490,163$2,680,816
5$5,225,084$1,897,353$514,671$2,813,060
6$5,486,339$1,994,018$540,404$2,951,917
7$5,760,656$2,095,515$567,425$3,097,716
8$6,048,688$2,202,087$595,796$3,250,806
9$6,351,123$2,313,988$625,586$3,411,550
10$6,668,679$2,431,483$656,865$3,580,331
11$7,002,113$2,554,854$689,708$3,757,551
12$7,352,219$2,684,393$724,194$3,943,632
13$7,719,829$2,820,409$760,403$4,139,017
14$8,105,821$2,963,226$798,423$4,344,172
15$8,511,112$3,113,184$838,345$4,559,584
16$8,936,668$3,270,639$880,262$4,785,767
17$9,383,501$3,435,968$924,275$5,023,258
18$9,852,676$3,609,562$970,489$5,272,625
19$10,345,310$3,791,837$1,019,013$5,534,460
20$10,862,575$3,983,225$1,069,964$5,809,386
21$11,405,704$4,184,183$1,123,462$6,098,059
22$11,975,989$4,395,188$1,179,635$6,401,166
23$12,574,789$4,616,744$1,238,617$6,719,428
24$13,203,528$4,849,378$1,300,547$7,053,603
25$13,863,704$5,093,643$1,365,575$7,404,487
26$14,556,890$5,350,121$1,433,854$7,772,915
27$15,284,734$5,619,424$1,505,546$8,159,764
28$16,048,971$5,902,191$1,580,824$8,565,956
29$16,851,419$6,199,097$1,659,865$8,992,457
30$17,693,990$6,510,849$1,742,858$9,440,284
Total$285,600,001$104,594,167$28,131,604$152,874,236

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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.