USA Mega

Texas Powerball Jackpot Annuity Payout Schedule for Jan 11, 2012

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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 $54,400,000 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, Jan 11, 2012
Jackpot:$54,400,000
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$969,957$317,072$0$652,885
2$1,008,756$331,427$0$677,328
3$1,049,106$346,357$0$702,749
4$1,091,070$361,884$0$729,186
5$1,134,713$378,032$0$756,681
6$1,180,101$394,825$0$785,276
7$1,227,306$412,291$0$815,015
8$1,276,398$430,455$0$845,943
9$1,327,454$449,346$0$878,108
10$1,380,552$468,992$0$911,560
11$1,435,774$489,424$0$946,350
12$1,493,205$510,674$0$982,531
13$1,552,933$532,773$0$1,020,160
14$1,615,050$555,756$0$1,059,294
15$1,679,652$579,659$0$1,099,993
16$1,746,838$604,518$0$1,142,320
17$1,816,712$630,371$0$1,186,341
18$1,889,380$657,259$0$1,232,122
19$1,964,956$685,221$0$1,279,734
20$2,043,554$714,303$0$1,329,251
21$2,125,296$744,547$0$1,380,749
22$2,210,308$776,002$0$1,434,306
23$2,298,720$808,714$0$1,490,006
24$2,390,669$842,735$0$1,547,934
25$2,486,296$878,117$0$1,608,179
26$2,585,748$914,914$0$1,670,833
27$2,689,178$953,183$0$1,735,994
28$2,796,745$992,983$0$1,803,761
29$2,908,614$1,034,375$0$1,874,239
30$3,024,959$1,077,423$0$1,947,536
Total$54,400,000$18,873,632$0$35,526,364

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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.