PowerBall Jackpot Grows to $302 Million!! See Estimated Lump-Sum and Annual Annuity Payments Here!

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Powerball:  The Saturday, May 27, 2017 Powerball drawing has taken place, and the results are 510285567, and the Powerball is 9.  The Power Play number is 3.

There was no jackpot winner in the Saturday, May 27, 2017 Powerball drawing, but 3 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from Arizona, 1 from Maine, and 1 from New York.

Estimated Payout Schedule for the Wednesday, 31 May 2017, drawing follows:

Annuity   Cash
 
Powerball Jackpot for Wed, May 31, 2017 $302,000,000
  $187,300,000
 
Gross Prize 30 average annual payments of $10,066,667
  Lump-sum cash: $187,300,000
– 25% Federal Tax – $2,516,667
  – $46,825,000
Subtotal

$7,550,000

 

$140,475,000

 

State:

Florida

Drawing Date:   Wed, May 31, 2017
Jackpot: $302,000,000
Federal Tax: 25%
State Tax: No state tax on lottery prizes
Report: Powerball annuity payout schedule (30 annual payments)

 

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $4,545,533 $1,136,383 $0 $3,409,150
2 $4,772,810 $1,193,203 $0 $3,579,608
3 $5,011,451 $1,252,863 $0 $3,758,588
4 $5,262,023 $1,315,506 $0 $3,946,517
5 $5,525,124 $1,381,281 $0 $4,143,843
6 $5,801,380 $1,450,345 $0 $4,351,035
7 $6,091,450 $1,522,862 $0 $4,568,587
8 $6,396,022 $1,599,006 $0 $4,797,017
9 $6,715,823 $1,678,956 $0 $5,036,867
10 $7,051,614 $1,762,904 $0 $5,288,711
11 $7,404,195 $1,851,049 $0 $5,553,146
12 $7,774,405 $1,943,601 $0 $5,830,804
13 $8,163,125 $2,040,781 $0 $6,122,344
14 $8,571,281 $2,142,820 $0 $6,428,461
15 $8,999,845 $2,249,961 $0 $6,749,884
16 $9,449,838 $2,362,459 $0 $7,087,378
17 $9,922,329 $2,480,582 $0 $7,441,747
18 $10,418,446 $2,604,611 $0 $7,813,834
19 $10,939,368 $2,734,842 $0 $8,204,526
20 $11,486,337 $2,871,584 $0 $8,614,752
21 $12,060,653 $3,015,163 $0 $9,045,490
22 $12,663,686 $3,165,921 $0 $9,497,764
23 $13,296,870 $3,324,218 $0 $9,972,653
24 $13,961,714 $3,490,428 $0 $10,471,285
25 $14,659,799 $3,664,950 $0 $10,994,850
26 $15,392,790 $3,848,197 $0 $11,544,592
27 $16,162,429 $4,040,607 $0 $12,121,822
28 $16,970,550 $4,242,638 $0 $12,727,913
29 $17,819,078 $4,454,769 $0 $13,364,308
30 $18,710,032 $4,677,508 $0 $14,032,524
Total $302,000,001 $75,500,000 $0 $226,500,000

 

Credit:  USAMega.com

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