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Pennsylvania Powerball Jackpot Annuity Payout Schedule for Apr 24, 2023

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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 $28,200,000 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:Mon, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$13,031$292,487
2$445,673$126,360$13,682$305,631
3$467,957$134,160$14,366$319,431
4$491,354$142,349$15,085$333,921
5$515,922$150,948$15,839$349,136
6$541,718$159,976$16,631$365,111
7$568,804$169,456$17,462$381,886
8$597,244$179,410$18,335$399,499
9$627,107$190,217$19,252$417,637
10$658,462$201,819$20,215$436,429
11$691,385$214,000$21,226$456,159
12$725,954$226,791$22,287$476,877
13$762,252$240,221$23,401$498,630
14$800,365$254,323$24,571$521,471
15$840,383$269,129$25,800$545,454
16$882,402$284,677$27,090$570,636
17$926,522$301,001$28,444$597,077
18$972,848$318,142$29,866$624,840
19$1,021,491$336,139$31,360$653,992
20$1,072,565$355,037$32,928$684,601
21$1,126,193$374,879$34,574$716,740
22$1,182,503$395,714$36,303$750,486
23$1,241,628$417,590$38,118$785,920
24$1,303,710$440,560$40,024$823,125
25$1,368,895$464,679$42,025$862,191
26$1,437,340$490,004$44,126$903,210
27$1,509,207$516,594$46,333$946,280
28$1,584,667$544,515$48,649$991,503
29$1,663,901$573,831$51,082$1,038,988
30$1,747,096$604,613$53,636$1,088,847
Total$28,200,000$9,196,066$865,741$18,138,195

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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.