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Minnesota Powerball Jackpot Annuity Payout Schedule for Nov 28, 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 $54,800,000 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:Mon, Nov 28, 2022
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$262,203$81,245$481,371
2$866,060$277,462$85,307$503,290
3$909,363$293,484$89,572$526,306
4$954,831$310,308$94,051$550,472
5$1,002,572$327,972$98,753$575,847
6$1,052,701$346,520$103,691$602,490
7$1,105,336$365,995$108,876$630,466
8$1,160,603$386,443$114,319$659,840
9$1,218,633$407,914$120,035$690,683
10$1,279,564$430,459$126,037$723,068
11$1,343,543$454,131$132,339$757,073
12$1,410,720$478,987$138,956$792,777
13$1,481,256$505,085$145,904$830,267
14$1,555,319$532,488$153,199$869,632
15$1,633,084$561,262$160,859$910,964
16$1,714,739$591,474$168,902$954,363
17$1,800,476$623,196$177,347$999,933
18$1,890,499$656,505$186,214$1,047,780
19$1,985,024$691,479$195,525$1,098,020
20$2,084,276$728,202$205,301$1,150,772
21$2,188,489$766,761$215,566$1,206,162
22$2,297,914$807,248$226,345$1,264,321
23$2,412,810$849,760$237,662$1,325,388
24$2,533,450$894,397$249,545$1,389,508
25$2,660,123$941,266$262,022$1,456,835
26$2,793,129$990,478$275,123$1,527,528
27$2,932,785$1,042,151$288,879$1,601,755
28$3,079,424$1,096,407$303,323$1,679,694
29$3,233,396$1,153,377$318,489$1,761,530
30$3,395,065$1,213,194$334,414$1,847,457
Total$54,800,000$18,986,608$5,397,800$30,415,592

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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.