USA Mega

Pennsylvania Powerball Jackpot Annuity Payout Schedule for Sep 28, 1996

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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 $12,700,000 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:Sat, Sep 28, 1996
Jackpot:$12,700,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$226,442$50,148$6,952$169,342
2$235,500$53,046$7,230$175,224
3$244,920$56,097$7,519$181,304
4$254,717$59,526$7,820$187,371
5$264,905$63,092$8,133$193,681
6$275,502$66,800$8,458$200,243
7$286,522$70,657$8,796$207,068
8$297,983$74,669$9,148$214,166
9$309,902$78,840$9,514$221,547
10$322,298$83,179$9,895$229,224
11$335,190$87,691$10,290$237,208
12$348,597$92,384$10,702$245,512
13$362,541$97,264$11,130$254,147
14$377,043$102,340$11,575$263,128
15$392,125$107,618$12,038$272,468
16$407,810$113,108$12,520$282,182
17$424,122$118,817$13,021$292,284
18$441,087$124,755$13,541$302,790
19$458,730$130,930$14,083$313,717
20$477,080$137,353$14,646$325,081
21$496,163$144,032$15,232$336,899
22$516,009$150,978$15,841$349,190
23$536,650$158,202$16,475$361,972
24$558,116$165,715$17,134$375,266
25$580,440$173,529$17,820$389,092
26$603,658$181,655$18,532$403,471
27$627,804$190,475$19,274$418,055
28$652,916$199,767$20,045$433,105
29$679,033$209,430$20,846$448,757
30$706,194$219,480$21,680$465,035
Total$12,700,000$3,561,577$389,890$8,748,529

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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.