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Minnesota Powerball Jackpot Annuity Payout Schedule for Mar 27, 2023

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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 $122,200,000 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 money, as well as deductions claimed.

State:

Minnesota

Drawing Date:Mon, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$637,556$181,170$1,020,560
2$1,931,250$671,583$190,228$1,069,439
3$2,027,812$707,311$199,739$1,120,762
4$2,129,203$744,825$209,726$1,174,651
5$2,235,663$784,215$220,213$1,231,235
6$2,347,446$825,575$231,223$1,290,647
7$2,464,818$869,003$242,785$1,353,031
8$2,588,059$914,602$254,924$1,418,533
9$2,717,462$962,481$267,670$1,487,311
10$2,853,335$1,012,754$281,054$1,559,527
11$2,996,002$1,065,541$295,106$1,635,355
12$3,145,802$1,120,967$309,862$1,714,974
13$3,303,092$1,179,164$325,355$1,798,573
14$3,468,247$1,240,272$341,622$1,886,353
15$3,641,659$1,304,434$358,703$1,978,522
16$3,823,742$1,371,805$376,639$2,075,299
17$4,014,929$1,442,544$395,471$2,176,915
18$4,215,676$1,516,820$415,244$2,283,611
19$4,426,460$1,594,810$436,006$2,395,643
20$4,647,783$1,676,700$457,807$2,513,276
21$4,880,172$1,762,684$480,697$2,636,791
22$5,124,180$1,852,967$504,732$2,766,482
23$5,380,389$1,947,764$529,968$2,902,657
24$5,649,409$2,047,301$556,467$3,045,640
25$5,931,879$2,151,816$584,290$3,195,773
26$6,228,473$2,261,555$613,505$3,353,413
27$6,539,897$2,376,782$644,180$3,518,935
28$6,866,892$2,497,770$676,389$3,692,733
29$7,210,236$2,624,808$710,208$3,875,220
30$7,570,748$2,758,197$745,719$4,066,832
Total$122,200,000$43,924,606$12,036,702$66,238,693

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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.