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Minnesota Powerball Jackpot Annuity Payout Schedule for Nov 16, 2022

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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 $76,000,000 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:Wed, Nov 16, 2022
Jackpot:$76,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,143,909$381,434$112,675$649,800
2$1,201,105$402,596$118,309$680,199
3$1,261,160$424,817$124,224$712,119
4$1,324,218$448,148$130,435$745,634
5$1,390,429$472,646$136,957$780,825
6$1,459,950$498,369$143,805$817,776
7$1,532,948$525,378$150,995$856,574
8$1,609,595$553,738$158,545$897,312
9$1,690,075$583,515$166,472$940,087
10$1,774,578$614,782$174,796$985,001
11$1,863,307$647,611$183,536$1,032,160
12$1,956,473$682,083$192,713$1,081,677
13$2,054,296$718,277$202,348$1,133,671
14$2,157,011$756,282$212,466$1,188,264
15$2,264,862$796,187$223,089$1,245,586
16$2,378,105$838,087$234,243$1,305,775
17$2,497,010$882,081$245,955$1,368,973
18$2,621,861$928,276$258,253$1,435,331
19$2,752,954$976,781$271,166$1,505,007
20$2,890,601$1,027,710$284,724$1,578,167
21$3,035,131$1,081,186$298,960$1,654,985
22$3,186,888$1,137,336$313,908$1,735,643
23$3,346,232$1,196,294$329,604$1,820,335
24$3,513,544$1,258,199$346,084$1,909,261
25$3,689,221$1,323,200$363,388$2,002,633
26$3,873,682$1,391,450$381,558$2,100,674
27$4,067,366$1,463,113$400,636$2,203,617
28$4,270,735$1,538,360$420,667$2,311,708
29$4,484,271$1,617,368$441,701$2,425,202
30$4,708,485$1,700,327$463,786$2,544,372
Total$76,000,000$26,865,631$7,485,998$41,648,368

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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.