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Powerball Jackpot Analysis

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The tax information provided here is based on 2021 federal marginal rates and state tax rates. We show both the intial mandated federal withholding of 24% as well as the remaining federal taxes that will be due. The initial state withholding taxes are based on published guidance from each state lottery and the final state tax rates are from state government publications.

All annuity amounts shown are the average amounts a jackpot winner would receive. Powerball annuity payments are made on an annually-increasing rate schedule, so to see what the payments would be on a year-by-year basis for any state, click the Annual Payment Schedule link next to the state.

Important: Be sure to review the Important Notes section at the bottom of the page, which provide additional context about the numbers presented here.

Federal Filing Status:

Annuity Cash
Powerball Jackpot for Wed, Jan 13, 2021 $550,000,000 $411,400,000
Gross Prize 30 average annual payments of $18,333,333 Cash: $411,400,000
– 24% federal tax – $4,400,000 – $98,736,000
– Add’l federal taxes due (37% final rate) – $2,347,406 – $53,446,072
Subtotal $11,585,928 $259,217,928
– State Tax:
Arizona: 4.8% state tax for in-state residents – $880,000 – $19,747,200
Your average net per year: $10,705,928 Your net payout: $239,470,728
After 30 payments: $321,177,840
Annuity Payment Schedule
Non-Arizona residents: 6% state tax – $1,100,000 – $24,684,000
Your average net per year: $10,485,928 Your net payout: $234,533,928
After 30 payments: $314,577,840
Annuity Payment Schedule
Arkansas: 6.6% state tax – $1,210,000 – $27,152,400
Your average net per year: $10,375,928 Your net payout: $232,065,528
After 30 payments: $311,277,840
Annuity Payment Schedule
California: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Colorado: 4% state tax withheld – $733,333 – $16,456,000
Add’l state taxes due (4.63% final rate) – $115,500 – $2,591,820
Your average net per year: $10,737,094 Your net payout: $240,170,108
After 30 payments: $322,112,820
Annuity Payment Schedule
Connecticut: 6.99% state tax – $1,281,500 – $28,756,860
Your average net per year: $10,304,428 Your net payout: $230,461,068
After 30 payments: $309,132,840
Annuity Payment Schedule
Delaware: 0% state tax withheld – $0 – $0
Add’l state taxes due (6.6% final rate) – $1,210,000 – $27,152,400
Your average net per year: $10,375,928 Your net payout: $232,065,528
After 30 payments: $311,277,840
Annuity Payment Schedule
Florida: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Georgia: 5.75% state tax – $1,054,167 – $23,655,500
Your average net per year: $10,531,761 Your net payout: $235,562,428
After 30 payments: $315,952,830
Annuity Payment Schedule
Idaho: 6.925% state tax – $1,269,583 – $28,489,450
Your average net per year: $10,316,344 Your net payout: $230,728,478
After 30 payments: $309,490,320
Annuity Payment Schedule
Illinois: 4.95% state tax – $907,500 – $20,364,300
Your average net per year: $10,678,428 Your net payout: $238,853,628
After 30 payments: $320,352,840
Annuity Payment Schedule
Indiana: 3.23% state tax – $592,167 – $13,288,220
Your average net per year: $10,993,761 Your net payout: $245,929,708
After 30 payments: $329,812,830
Annuity Payment Schedule
Iowa: 5% state tax withheld – $916,667 – $20,570,000
Add’l state taxes due (8.53% final rate) – $647,167 – $14,522,420
Your average net per year: $10,022,094 Your net payout: $224,125,508
After 30 payments: $300,662,820
Annuity Payment Schedule
Kansas: 5% state tax withheld – $916,667 – $20,570,000
Add’l state taxes due (5.7% final rate) – $128,333 – $2,879,800
Your average net per year: $10,540,928 Your net payout: $235,768,128
After 30 payments: $316,227,840
Annuity Payment Schedule
Kentucky: 5% state tax – $916,667 – $20,570,000
Your average net per year: $10,669,261 Your net payout: $238,647,928
After 30 payments: $320,077,830
Annuity Payment Schedule
Louisiana: 5% state tax withheld – $916,667 – $20,570,000
Add’l state taxes due (6% final rate) – $183,333 – $4,114,000
Your average net per year: $10,485,928 Your net payout: $234,533,928
After 30 payments: $314,577,840
Annuity Payment Schedule
Maine: 5% state tax withheld – $916,667 – $20,570,000
Add’l state taxes due (7.15% final rate) – $394,167 – $8,845,100
Your average net per year: $10,275,094 Your net payout: $229,802,828
After 30 payments: $308,252,820
Annuity Payment Schedule
Maryland: 8.95% state tax for in-state residents – $1,640,833 – $36,820,300
Your average net per year: $9,945,094 Your net payout: $222,397,628
After 30 payments: $298,352,820
Annuity Payment Schedule
Non-Maryland residents: 8% state tax – $1,466,667 – $32,912,000
Your average net per year: $10,119,261 Your net payout: $226,305,928
After 30 payments: $303,577,830
Annuity Payment Schedule
Massachusetts: 5% state tax – $916,667 – $20,570,000
Your average net per year: $10,669,261 Your net payout: $238,647,928
After 30 payments: $320,077,830
Annuity Payment Schedule
Michigan: 4.25% state tax – $779,167 – $17,484,500
Your average net per year: $10,806,761 Your net payout: $241,733,428
After 30 payments: $324,202,830
Annuity Payment Schedule
Minnesota: 7.25% state tax withheld – $1,329,167 – $29,826,500
Add’l state taxes due (9.85% final rate) – $476,667 – $10,696,400
Your average net per year: $9,780,094 Your net payout: $218,695,028
After 30 payments: $293,402,820
Annuity Payment Schedule
Mississippi: 5% state tax – $916,667 – $20,570,000
Your average net per year: $10,669,261 Your net payout: $238,647,928
After 30 payments: $320,077,830
Annuity Payment Schedule
Missouri: 4% state tax withheld – $733,333 – $16,456,000
Add’l state taxes due (5.4% final rate) – $256,667 – $5,759,600
Your average net per year: $10,595,928 Your net payout: $237,002,328
After 30 payments: $317,877,840
Annuity Payment Schedule
Montana: 6.9% state tax – $1,265,000 – $28,386,600
Your average net per year: $10,320,928 Your net payout: $230,831,328
After 30 payments: $309,627,840
Annuity Payment Schedule
Nebraska: 5% state tax withheld – $916,667 – $20,570,000
Add’l state taxes due (6.84% final rate) – $337,333 – $7,569,760
Your average net per year: $10,331,928 Your net payout: $231,078,168
After 30 payments: $309,957,840
Annuity Payment Schedule
New Hampshire: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
New Jersey: 8% state tax withheld – $1,466,667 – $32,912,000
Add’l state taxes due (10.75% final rate) – $504,167 – $11,313,500
Your average net per year: $9,615,094 Your net payout: $214,992,428
After 30 payments: $288,452,820
Annuity Payment Schedule
New Mexico: 6% state tax – $1,100,000 – $24,684,000
Your average net per year: $10,485,928 Your net payout: $234,533,928
After 30 payments: $314,577,840
Annuity Payment Schedule
New York: 8.82% state tax † – $1,617,000 – $36,285,480
Your average net per year: $9,968,928 Your net payout: $222,932,448
After 30 payments: $299,067,840
Annuity Payment Schedule
North Carolina: 5.25% state tax – $962,500 – $21,598,500
Your average net per year: $10,623,428 Your net payout: $237,619,428
After 30 payments: $318,702,840
Annuity Payment Schedule
North Dakota: 2.9% state tax – $531,667 – $11,930,600
Your average net per year: $11,054,261 Your net payout: $247,287,328
After 30 payments: $331,627,830
Annuity Payment Schedule
Ohio: 4.797% state tax – $879,450 – $19,734,858
Your average net per year: $10,706,478 Your net payout: $239,483,070
After 30 payments: $321,194,340
Annuity Payment Schedule
Oklahoma: 5% state tax – $916,667 – $20,570,000
Your average net per year: $10,669,261 Your net payout: $238,647,928
After 30 payments: $320,077,830
Annuity Payment Schedule
Oregon: 8% state tax withheld – $1,466,667 – $32,912,000
Add’l state taxes due (9.9% final rate) – $348,333 – $7,816,600
Your average net per year: $9,770,928 Your net payout: $218,489,328
After 30 payments: $293,127,840
Annuity Payment Schedule
Pennsylvania: 3.07% state tax – $562,833 – $12,629,980
Your average net per year: $11,023,094 Your net payout: $246,587,948
After 30 payments: $330,692,820
Annuity Payment Schedule
Puerto Rico: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Rhode Island: 5.99% state tax – $1,098,167 – $24,642,860
Your average net per year: $10,487,761 Your net payout: $234,575,068
After 30 payments: $314,632,830
Annuity Payment Schedule
South Carolina: 7% state tax – $1,283,333 – $28,798,000
Your average net per year: $10,302,594 Your net payout: $230,419,928
After 30 payments: $309,077,820
Annuity Payment Schedule
South Dakota: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Tennessee: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Texas: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
U.S. Virgin Islands: Unknown state tax rate
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Vermont: 6% state tax withheld – $1,100,000 – $24,684,000
Add’l state taxes due (8.75% final rate) – $504,167 – $11,313,500
Your average net per year: $9,981,761 Your net payout: $223,220,428
After 30 payments: $299,452,830
Annuity Payment Schedule
Virginia: 4% state tax withheld – $733,333 – $16,456,000
Add’l state taxes due (5.75% final rate) – $320,833 – $7,199,500
Your average net per year: $10,531,761 Your net payout: $235,562,428
After 30 payments: $315,952,830
Annuity Payment Schedule
Washington: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule
Washington, D.C.: 8.95% state tax – $1,640,833 – $36,820,300
Your average net per year: $9,945,094 Your net payout: $222,397,628
After 30 payments: $298,352,820
Annuity Payment Schedule
West Virginia: 6.5% state tax – $1,191,667 – $26,741,000
Your average net per year: $10,394,261 Your net payout: $232,476,928
After 30 payments: $311,827,830
Annuity Payment Schedule
Wisconsin: 7.65% state tax – $1,402,500 – $31,472,100
Your average net per year: $10,183,428 Your net payout: $227,745,828
After 30 payments: $305,502,840
Annuity Payment Schedule
Wyoming: No state tax on lottery prizes
Your average net per year: $11,585,928 Your net payout: $259,217,928
After 30 payments: $347,577,840
Annuity Payment Schedule

† New York imposes additional withholding if you live in one of the following jurisdictions: New York City (3.876%) and Yonkers (1.477%).

Powerball jackpot analysis shows the net amount a grand prize winner would receive after federal and state taxes are withheld.

California Powerball Jackpot Annuity Payout Schedule for Jan 13, 2021

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2021 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 $550,000,000 for a ticket purchased in California, 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 prize money, as well as deductions claimed.

California

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $8,278,289 $3,027,039 $0 $5,251,250
2 $8,692,204 $3,180,188 $0 $5,512,016
3 $9,126,814 $3,340,993 $0 $5,785,820
4 $9,583,155 $3,509,840 $0 $6,073,315
5 $10,062,312 $3,687,128 $0 $6,375,184
6 $10,565,428 $3,873,281 $0 $6,692,147
7 $11,093,700 $4,068,741 $0 $7,024,959
8 $11,648,385 $4,273,975 $0 $7,374,410
9 $12,230,804 $4,489,470 $0 $7,741,334
10 $12,842,344 $4,715,739 $0 $8,126,604
11 $13,484,461 $4,953,323 $0 $8,531,138
12 $14,158,684 $5,202,785 $0 $8,955,899
13 $14,866,618 $5,464,721 $0 $9,401,897
14 $15,609,949 $5,739,753 $0 $9,870,196
15 $16,390,447 $6,028,537 $0 $10,361,909
16 $17,209,969 $6,331,761 $0 $10,878,208
17 $18,070,467 $6,650,145 $0 $11,420,322
18 $18,973,991 $6,984,449 $0 $11,989,542
19 $19,922,690 $7,335,468 $0 $12,587,223
20 $20,918,825 $7,704,037 $0 $13,214,787
21 $21,964,766 $8,091,036 $0 $13,873,730
22 $23,063,004 $8,497,384 $0 $14,565,620
23 $24,216,155 $8,924,049 $0 $15,292,105
24 $25,426,962 $9,372,048 $0 $16,054,914
25 $26,698,310 $9,842,447 $0 $16,855,863
26 $28,033,226 $10,336,366 $0 $17,696,860
27 $29,434,887 $10,854,981 $0 $18,579,907
28 $30,906,631 $11,399,526 $0 $19,507,105
29 $32,451,963 $11,971,299 $0 $20,480,664
30 $34,074,561 $12,571,660 $0 $21,502,901
Total $550,000,001 $202,422,169 $0 $347,577,829

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.

Powerball annuity chart shows the annual net payout a California jackpot winner would get after federal and state taxes. ]]>