USA Mega

Texas Powerball Jackpot Annuity Payout Schedule for Jul 20, 2024

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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 $91,000,000 for a ticket purchased in Texas, 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:

Texas

Drawing Date:Sat, Jul 20, 2024
Jackpot:$91,000,000
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$1,369,681$464,970$0$904,711
2$1,438,165$490,309$0$947,856
3$1,510,073$516,915$0$993,158
4$1,585,577$544,851$0$1,040,725
5$1,664,855$574,184$0$1,090,671
6$1,748,098$604,984$0$1,143,114
7$1,835,503$637,324$0$1,198,179
8$1,927,278$671,281$0$1,255,997
9$2,023,642$706,935$0$1,316,707
10$2,124,824$744,373$0$1,380,451
11$2,231,065$783,682$0$1,447,383
12$2,342,619$824,957$0$1,517,662
13$2,459,750$868,295$0$1,591,454
14$2,582,737$913,800$0$1,668,937
15$2,711,874$961,581$0$1,750,293
16$2,847,468$1,011,751$0$1,835,717
17$2,989,841$1,064,429$0$1,925,412
18$3,139,333$1,119,741$0$2,019,592
19$3,296,300$1,177,819$0$2,118,481
20$3,461,115$1,238,800$0$2,222,314
21$3,634,170$1,302,831$0$2,331,340
22$3,815,879$1,370,063$0$2,445,816
23$4,006,673$1,440,657$0$2,566,016
24$4,207,006$1,514,780$0$2,692,226
25$4,417,357$1,592,610$0$2,824,747
26$4,638,225$1,674,331$0$2,963,894
27$4,870,136$1,760,138$0$3,109,998
28$5,113,643$1,850,236$0$3,263,407
29$5,369,325$1,944,838$0$3,424,487
30$5,637,791$2,044,170$0$3,593,621
Total$91,000,000$32,415,635$0$58,584,366

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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.