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Pennsylvania Powerball Jackpot Annuity Payout Schedule for Sep 20, 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 $677,100,000 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, Sep 20, 2023
Jackpot:$677,100,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,191,327$3,728,979$312,874$6,149,474
2$10,700,893$3,917,518$328,517$6,454,858
3$11,235,938$4,115,485$344,943$6,775,510
4$11,797,735$4,323,350$362,190$7,112,195
5$12,387,621$4,541,608$380,300$7,465,714
6$13,007,002$4,770,779$399,315$7,836,909
7$13,657,353$5,011,408$419,281$8,226,664
8$14,340,220$5,264,069$440,245$8,635,906
9$15,057,231$5,529,363$462,257$9,065,611
10$15,810,093$5,807,922$485,370$9,516,801
11$16,600,597$6,100,409$509,638$9,990,550
12$17,430,627$6,407,520$535,120$10,487,987
13$18,302,159$6,729,986$561,876$11,010,296
14$19,217,267$7,068,576$589,970$11,558,720
15$20,178,130$7,424,096$619,469$12,134,565
16$21,187,037$7,797,391$650,442$12,739,203
17$22,246,388$8,189,351$682,964$13,374,073
18$23,358,708$8,600,910$717,112$14,040,686
19$24,526,643$9,033,046$752,968$14,740,629
20$25,752,975$9,486,789$790,616$15,475,570
21$27,040,624$9,963,218$830,147$16,247,258
22$28,392,655$10,463,470$871,655$17,057,530
23$29,812,288$10,988,734$915,237$17,908,316
24$31,302,902$11,540,261$960,999$18,801,641
25$32,868,047$12,119,365$1,009,049$19,739,633
26$34,511,450$12,727,424$1,059,502$20,724,524
27$36,237,022$13,365,886$1,112,477$21,758,660
28$38,048,873$14,036,271$1,168,100$22,844,502
29$39,951,317$14,740,175$1,226,505$23,984,636
30$41,948,883$15,479,274$1,287,831$25,181,778
Total$677,100,001$249,272,633$20,786,969$407,040,399

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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.