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Minnesota Powerball Jackpot Annuity Payout Schedule for Oct 2, 2024

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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 $273,500,000 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, Oct 2, 2024
Jackpot:$273,500,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,116,567$1,481,318$405,482$2,229,768
2$4,322,396$1,557,474$425,756$2,339,166
3$4,538,516$1,637,439$447,044$2,454,033
4$4,765,442$1,721,401$469,396$2,574,644
5$5,003,713$1,809,562$492,866$2,701,286
6$5,253,899$1,902,130$517,509$2,834,260
7$5,516,594$1,999,328$543,385$2,973,882
8$5,792,424$2,101,385$570,554$3,120,486
9$6,082,045$2,208,544$599,081$3,274,419
10$6,386,147$2,321,062$629,036$3,436,050
11$6,705,455$2,439,206$660,487$3,605,761
12$7,040,727$2,563,257$693,512$3,783,959
13$7,392,764$2,693,510$728,187$3,971,066
14$7,762,402$2,830,277$764,597$4,167,529
15$8,150,522$2,973,881$802,826$4,373,815
16$8,558,048$3,124,666$842,968$4,590,415
17$8,985,951$3,282,989$885,116$4,817,845
18$9,435,248$3,449,230$929,372$5,056,647
19$9,907,010$3,623,782$975,841$5,307,388
20$10,402,361$3,807,061$1,024,633$5,570,667
21$10,922,479$3,999,505$1,075,864$5,847,110
22$11,468,603$4,201,571$1,129,657$6,137,375
23$12,042,033$4,413,740$1,186,140$6,442,153
24$12,644,135$4,636,518$1,245,447$6,762,170
25$13,276,341$4,870,434$1,307,720$7,098,188
26$13,940,159$5,116,047$1,373,106$7,451,007
27$14,637,167$5,373,939$1,441,761$7,821,466
28$15,369,025$5,644,727$1,513,849$8,210,449
29$16,137,476$5,929,054$1,589,541$8,618,881
30$16,944,350$6,227,597$1,669,018$9,047,734
Total$273,500,001$99,940,634$26,939,751$146,619,619

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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.