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South Dakota 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 South Dakota, 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:

South Dakota

Drawing Date:Mon, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$0$305,518
2$445,673$126,360$0$319,313
3$467,957$134,160$0$333,797
4$491,354$142,349$0$349,006
5$515,922$150,948$0$364,975
6$541,718$159,976$0$381,742
7$568,804$169,456$0$399,348
8$597,244$179,410$0$417,834
9$627,107$190,217$0$436,889
10$658,462$201,819$0$456,643
11$691,385$214,000$0$477,385
12$725,954$226,791$0$499,163
13$762,252$240,221$0$522,031
14$800,365$254,323$0$546,042
15$840,383$269,129$0$571,253
16$882,402$284,677$0$597,726
17$926,522$301,001$0$625,521
18$972,848$318,142$0$654,707
19$1,021,491$336,139$0$685,351
20$1,072,565$355,037$0$717,528
21$1,126,193$374,879$0$751,314
22$1,182,503$395,714$0$786,789
23$1,241,628$417,590$0$824,038
24$1,303,710$440,560$0$863,149
25$1,368,895$464,679$0$904,216
26$1,437,340$490,004$0$947,336
27$1,509,207$516,594$0$992,613
28$1,584,667$544,515$0$1,040,153
29$1,663,901$573,831$0$1,090,070
30$1,747,096$604,613$0$1,142,483
Total$28,200,000$9,196,066$0$19,003,933

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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.