USA Mega

Minnesota Powerball Jackpot Annuity Payout Schedule for Nov 21, 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 $20,000,000 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:Mon, Nov 21, 2022
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$74,907$29,651$196,470
2$316,080$80,175$31,134$204,771
3$331,884$85,707$32,691$213,487
4$348,478$91,515$34,325$222,639
5$365,902$97,613$36,041$232,248
6$384,197$104,016$37,843$242,338
7$403,407$110,740$39,736$252,932
8$423,578$117,799$41,722$264,056
9$444,757$125,212$43,809$275,736
10$466,994$132,995$45,999$288,000
11$490,344$141,168$48,299$300,877
12$514,861$149,749$50,714$314,399
13$540,604$158,759$53,250$328,596
14$567,635$168,219$55,912$343,503
15$596,016$178,153$58,708$359,156
16$625,817$188,583$61,643$375,591
17$657,108$200,150$64,725$392,233
18$689,963$212,307$67,961$409,695
19$724,461$225,071$71,359$428,031
20$760,685$238,474$74,927$447,284
21$798,719$252,546$78,674$467,499
22$838,655$267,322$82,607$488,725
23$880,587$282,838$86,738$511,012
24$924,617$299,128$91,075$534,414
25$970,848$316,234$95,628$558,985
26$1,019,390$334,195$100,410$584,786
27$1,070,360$353,053$105,430$611,876
28$1,123,878$372,855$110,702$640,321
29$1,180,071$393,647$116,237$670,188
30$1,239,075$415,478$122,049$701,548
Total$20,000,000$6,168,608$1,969,999$11,861,396

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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.