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Minnesota Powerball Jackpot Annuity Payout Schedule for Oct 15, 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 $464,800,000 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 15, 2022
Jackpot:$464,800,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,995,907$2,545,506$689,097$3,761,304
2$7,345,702$2,674,930$723,552$3,947,221
3$7,712,987$2,810,826$759,729$4,142,433
4$8,098,637$2,953,516$797,716$4,347,405
5$8,503,569$3,103,341$837,601$4,562,626
6$8,928,747$3,260,657$879,482$4,788,609
7$9,375,185$3,425,839$923,456$5,025,890
8$9,843,944$3,599,279$969,628$5,275,036
9$10,336,141$3,781,392$1,018,110$5,536,639
10$10,852,948$3,972,611$1,069,015$5,811,322
11$11,395,595$4,173,391$1,122,466$6,099,739
12$11,965,375$4,384,209$1,178,589$6,402,577
13$12,563,644$4,605,569$1,237,519$6,720,556
14$13,191,826$4,837,996$1,299,395$7,054,435
15$13,851,417$5,082,045$1,364,365$7,405,008
16$14,543,988$5,338,296$1,432,583$7,773,110
17$15,271,188$5,607,360$1,504,212$8,159,616
18$16,034,747$5,889,877$1,579,423$8,565,448
19$16,836,484$6,186,519$1,658,394$8,991,571
20$17,678,309$6,497,994$1,741,313$9,439,001
21$18,562,224$6,825,043$1,828,379$9,908,802
22$19,490,335$7,168,444$1,919,798$10,402,093
23$20,464,852$7,529,016$2,015,788$10,920,049
24$21,488,094$7,907,615$2,116,577$11,463,902
25$22,562,499$8,305,145$2,222,406$12,034,948
26$23,690,625$8,722,551$2,333,527$12,634,547
27$24,875,156$9,160,828$2,450,203$13,264,125
28$26,118,913$9,621,018$2,572,713$13,925,182
29$27,424,859$10,104,218$2,701,349$14,619,292
30$28,796,102$10,611,578$2,836,416$15,348,108
Total$464,800,001$170,686,609$45,782,801$248,330,594

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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.