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Pennsylvania Powerball Jackpot Annuity Payout Schedule for Oct 4, 2023

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The tax information provided here is based on 2022 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 $1,200,000,000 for a ticket purchased in Pennsylvania, 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:

Pennsylvania

Drawing Date:Wed, Oct 4, 2023
Jackpot:$1,200,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$18,061,722$6,645,792$554,495$10,861,435
2$18,964,808$6,979,934$582,220$11,402,655
3$19,913,048$7,330,783$611,331$11,970,935
4$20,908,702$7,699,175$641,897$12,567,630
5$21,954,136$8,085,985$673,992$13,194,158
6$23,051,843$8,492,137$707,692$13,852,014
7$24,204,436$8,918,596$743,076$14,542,763
8$25,414,657$9,366,378$780,230$15,268,049
9$26,685,390$9,836,549$819,241$16,029,599
10$28,019,659$10,330,229$860,204$16,829,227
11$29,420,642$10,848,593$903,214$17,668,836
12$30,891,674$11,392,875$948,374$18,550,425
13$32,436,258$11,964,370$995,793$19,476,094
14$34,058,071$12,564,441$1,045,583$20,448,047
15$35,760,974$13,194,516$1,097,862$21,468,597
16$37,549,024$13,856,094$1,152,755$22,540,175
17$39,426,474$14,550,750$1,210,393$23,665,331
18$41,397,798$15,280,140$1,270,912$24,846,745
19$43,467,688$16,045,999$1,334,458$26,087,230
20$45,641,072$16,850,152$1,401,181$27,389,740
21$47,923,126$17,694,511$1,471,240$28,757,374
22$50,319,282$18,581,089$1,544,802$30,193,391
23$52,835,246$19,511,996$1,622,042$31,701,208
24$55,477,008$20,489,448$1,703,144$33,284,416
25$58,250,858$21,515,773$1,788,301$34,946,784
26$61,163,402$22,593,414$1,877,716$36,692,272
27$64,221,572$23,724,937$1,971,602$38,525,033
28$67,432,650$24,913,036$2,070,182$40,449,432
29$70,804,283$26,160,540$2,173,691$42,470,052
30$74,344,498$27,470,419$2,282,376$44,591,702
Total$1,200,000,002$442,888,651$36,839,999$720,271,349

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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.