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Minnesota Powerball Jackpot Annuity Payout Schedule for Mar 4, 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 $462,700,000 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 4, 2024
Jackpot:$462,700,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,964,299$2,534,978$685,983$3,743,337
2$7,312,514$2,663,818$720,283$3,928,413
3$7,678,140$2,799,099$756,297$4,122,743
4$8,062,047$2,941,145$794,112$4,326,790
5$8,465,149$3,090,293$833,817$4,541,039
6$8,888,406$3,246,898$875,508$4,766,000
7$9,332,827$3,411,334$919,283$5,002,210
8$9,799,468$3,583,991$965,248$5,250,230
9$10,289,442$3,765,281$1,013,510$5,510,650
10$10,803,914$3,955,636$1,064,185$5,784,092
11$11,344,109$4,155,508$1,117,395$6,071,206
12$11,911,315$4,365,374$1,173,265$6,372,676
13$12,506,880$4,585,734$1,231,928$6,689,219
14$13,132,225$4,817,111$1,293,524$7,021,590
15$13,788,836$5,060,057$1,358,200$7,370,578
16$14,478,278$5,315,150$1,426,110$7,737,017
17$15,202,191$5,582,999$1,497,416$8,121,777
18$15,962,301$5,864,239$1,572,287$8,525,775
19$16,760,416$6,159,542$1,650,901$8,949,973
20$17,598,437$6,469,609$1,733,446$9,395,381
21$18,478,359$6,795,180$1,820,118$9,863,060
22$19,402,276$7,137,030$1,911,124$10,354,122
23$20,372,390$7,495,972$2,006,680$10,869,738
24$21,391,010$7,872,861$2,107,014$11,411,134
25$22,460,560$8,268,595$2,212,365$11,979,600
26$23,583,589$8,684,116$2,322,983$12,576,490
27$24,762,768$9,120,412$2,439,133$13,203,223
28$26,000,906$9,578,523$2,561,089$13,861,294
29$27,300,951$10,059,540$2,689,144$14,552,268
30$28,665,999$10,564,607$2,823,601$15,277,791
Total$462,700,001$169,944,632$45,575,949$247,179,416

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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.