USA Mega

Texas Powerball Jackpot Annuity Payout Schedule for Aug 31, 2011

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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 $76,500,000 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:Wed, Aug 31, 2011
Jackpot:$76,500,000
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$1,364,003$462,869$0$901,134
2$1,418,563$483,056$0$935,507
3$1,475,305$504,051$0$971,255
4$1,534,317$525,885$0$1,008,432
5$1,595,690$548,593$0$1,047,097
6$1,659,518$572,209$0$1,087,308
7$1,725,898$596,770$0$1,129,128
8$1,794,934$622,313$0$1,172,621
9$1,866,732$648,878$0$1,217,853
10$1,941,401$676,506$0$1,264,895
11$2,019,057$705,239$0$1,313,818
12$2,099,819$735,121$0$1,364,698
13$2,183,812$766,198$0$1,417,614
14$2,271,165$798,519$0$1,472,646
15$2,362,011$832,132$0$1,529,879
16$2,456,492$867,090$0$1,589,402
17$2,554,751$903,446$0$1,651,306
18$2,656,941$941,256$0$1,715,685
19$2,763,219$980,579$0$1,782,640
20$2,873,748$1,021,474$0$1,852,273
21$2,988,698$1,064,006$0$1,924,692
22$3,108,246$1,108,239$0$2,000,007
23$3,232,575$1,154,241$0$2,078,335
24$3,361,878$1,202,083$0$2,159,796
25$3,496,354$1,251,839$0$2,244,515
26$3,636,208$1,303,585$0$2,332,623
27$3,781,656$1,357,400$0$2,424,255
28$3,932,922$1,413,369$0$2,519,553
29$4,090,239$1,471,576$0$2,618,663
30$4,253,849$1,532,112$0$2,721,737
Total$76,500,000$27,050,634$0$49,449,367

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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.