USA Mega

Minnesota Powerball Jackpot Annuity Payout Schedule for Sep 20, 2023

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

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 $677,100,000 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, Sep 20, 2023
Jackpot:$677,100,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,191,327$3,728,979$1,003,846$5,458,502
2$10,700,893$3,917,518$1,054,038$5,729,337
3$11,235,938$4,115,485$1,106,740$6,013,713
4$11,797,735$4,323,350$1,162,077$6,312,308
5$12,387,621$4,541,608$1,220,181$6,625,833
6$13,007,002$4,770,779$1,281,190$6,955,034
7$13,657,353$5,011,408$1,345,249$7,300,695
8$14,340,220$5,264,069$1,412,512$7,663,639
9$15,057,231$5,529,363$1,483,137$8,044,731
10$15,810,093$5,807,922$1,557,294$8,444,877
11$16,600,597$6,100,409$1,635,159$8,865,030
12$17,430,627$6,407,520$1,716,917$9,306,191
13$18,302,159$6,729,986$1,802,763$9,769,410
14$19,217,267$7,068,576$1,892,901$10,255,789
15$20,178,130$7,424,096$1,987,546$10,766,488
16$21,187,037$7,797,391$2,086,923$11,302,722
17$22,246,388$8,189,351$2,191,269$11,865,767
18$23,358,708$8,600,910$2,300,833$12,456,965
19$24,526,643$9,033,046$2,415,874$13,077,723
20$25,752,975$9,486,789$2,536,668$13,729,519
21$27,040,624$9,963,218$2,663,501$14,413,904
22$28,392,655$10,463,470$2,796,677$15,132,508
23$29,812,288$10,988,734$2,936,510$15,887,043
24$31,302,902$11,540,261$3,083,336$16,679,305
25$32,868,047$12,119,365$3,237,503$17,511,179
26$34,511,450$12,727,424$3,399,378$18,384,648
27$36,237,022$13,365,886$3,569,347$19,301,790
28$38,048,873$14,036,271$3,747,814$20,264,788
29$39,951,317$14,740,175$3,935,205$21,275,937
30$41,948,883$15,479,274$4,131,965$22,337,643
Total$677,100,001$249,272,633$66,694,353$361,133,018

◄ 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.