USA Mega

Minnesota Powerball Jackpot Annuity Payout Schedule for Nov 23, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2022 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 $32,200,000 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:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$47,739$293,535
2$508,889$151,864$50,126$306,899
3$534,333$160,770$52,632$320,932
4$561,050$170,544$55,263$335,243
5$589,103$180,923$58,027$350,153
6$618,558$191,821$60,928$365,808
7$649,486$203,265$63,974$382,247
8$681,960$215,280$67,173$399,507
9$716,058$227,896$70,532$417,630
10$751,861$241,144$74,058$436,659
11$789,454$255,053$77,761$456,640
12$828,927$269,658$81,649$477,619
13$870,373$284,993$85,732$499,648
14$913,892$301,095$90,018$522,778
15$959,586$318,002$94,519$547,065
16$1,007,565$335,754$99,245$572,566
17$1,057,944$354,394$104,207$599,342
18$1,110,841$373,966$109,418$627,457
19$1,166,383$394,517$114,889$656,978
20$1,224,702$416,095$120,633$687,974
21$1,285,937$438,752$126,665$720,521
22$1,350,234$462,542$132,998$754,694
23$1,417,746$487,521$139,648$790,577
24$1,488,633$513,749$146,630$828,253
25$1,563,065$541,289$153,962$867,814
26$1,641,218$570,206$161,660$909,352
27$1,723,279$600,568$169,743$952,968
28$1,809,443$632,449$178,230$998,764
29$1,899,915$665,924$187,142$1,046,850
30$1,994,911$701,072$196,499$1,097,340
Total$32,200,000$10,804,489$3,171,700$18,223,813

◄ Back to Jackpot Analysis

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.