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Minnesota Powerball Jackpot Annuity Payout Schedule for Sep 18, 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 $176,300,000 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 18, 2024
Jackpot:$176,300,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,653,568$940,008$261,376$1,452,184
2$2,786,246$989,099$274,445$1,522,702
3$2,925,559$1,040,644$288,168$1,596,747
4$3,071,837$1,094,767$302,576$1,674,493
5$3,225,428$1,151,596$317,705$1,756,127
6$3,386,700$1,211,267$333,590$1,841,843
7$3,556,035$1,273,921$350,269$1,931,845
8$3,733,837$1,339,707$367,783$2,026,346
9$3,920,529$1,408,783$386,172$2,125,573
10$4,116,555$1,481,313$405,481$2,229,761
11$4,322,383$1,557,469$425,755$2,339,159
12$4,538,502$1,637,433$447,042$2,454,026
13$4,765,427$1,721,396$469,395$2,574,637
14$5,003,698$1,809,556$492,864$2,701,278
15$5,253,883$1,902,125$517,507$2,834,251
16$5,516,577$1,999,321$543,383$2,973,873
17$5,792,406$2,101,378$570,552$3,120,476
18$6,082,026$2,208,538$599,080$3,274,409
19$6,386,128$2,321,055$629,034$3,436,039
20$6,705,434$2,439,198$660,485$3,605,751
21$7,040,706$2,563,249$693,510$3,783,947
22$7,392,741$2,693,502$728,185$3,971,054
23$7,762,378$2,830,268$764,594$4,167,516
24$8,150,497$2,973,872$802,824$4,373,801
25$8,558,022$3,124,656$842,965$4,590,401
26$8,985,923$3,282,979$885,113$4,817,830
27$9,435,219$3,449,219$929,369$5,056,631
28$9,906,980$3,623,770$975,838$5,307,372
29$10,402,329$3,807,050$1,024,629$5,570,650
30$10,922,446$3,999,493$1,075,861$5,847,092
Total$176,300,000$63,976,632$17,365,550$94,957,814

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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.