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Minnesota Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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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 $632,600,000 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 money, as well as deductions claimed.

State:

Minnesota

Drawing Date:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,479,989$937,871$5,103,677
2$9,997,615$3,656,138$984,765$5,356,712
3$10,497,495$3,841,094$1,034,003$5,622,399
4$11,022,371$4,035,297$1,085,703$5,901,370
5$11,573,488$4,239,211$1,139,989$6,194,289
6$12,152,163$4,453,321$1,196,988$6,501,854
7$12,759,772$4,678,136$1,256,838$6,824,798
8$13,397,760$4,914,191$1,319,679$7,163,889
9$14,067,648$5,162,050$1,385,663$7,519,935
10$14,771,030$5,422,301$1,454,946$7,893,782
11$15,509,582$5,695,566$1,527,694$8,286,323
12$16,285,061$5,982,493$1,604,079$8,698,490
13$17,099,314$6,283,766$1,684,282$9,131,265
14$17,954,280$6,600,104$1,768,497$9,585,679
15$18,851,994$6,932,258$1,856,921$10,062,814
16$19,794,594$7,281,020$1,949,767$10,563,806
17$20,784,323$7,647,220$2,047,256$11,089,847
18$21,823,539$8,031,730$2,149,619$11,642,191
19$22,914,716$8,435,465$2,257,100$12,222,151
20$24,060,452$8,859,387$2,369,955$12,831,110
21$25,263,474$9,304,506$2,488,452$13,470,516
22$26,526,648$9,771,880$2,612,875$14,141,893
23$27,852,981$10,262,623$2,743,519$14,846,839
24$29,245,629$10,777,903$2,880,694$15,587,032
25$30,707,911$11,318,947$3,024,729$16,364,234
26$32,243,307$11,887,044$3,175,966$17,180,297
27$33,855,472$12,483,545$3,334,764$18,037,163
28$35,548,245$13,109,871$3,501,502$18,936,872
29$37,325,658$13,767,514$3,676,577$19,881,567
30$39,191,941$14,458,038$3,860,406$20,873,496
Total$632,600,001$232,772,608$62,311,099$337,516,290

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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.