Entertainment

Powerball Jackpot Saturday, 11 June: $141 Million! See Payout Analysis Here.

June 10, 2016

1208

Important: All annuity amounts shown are the average amounts a jackpot winner would receive. Powerball annuity payments are made on an annually-increasing rate schedule. Figures shown are estimates and are provided for entertainment purposes only.

Annuity

Cash

Powerball Jackpot for Sat, Jun 11, 2016

$141,000,000

$93,800,000

Gross Prize

30 average annual payments of $4,700,000

Lump-sum cash: $93,800,000

– 25% Federal Tax

– $1,175,000

– $23,450,000

Subtotal

$3,525,000

$70,350,000

State:	Florida
Drawing Date:	Sat, Jun 11, 2016
Jackpot:	$141,000,000
Federal Tax:	25% (When you file, it will be a lot more!)
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	$2,122,252	$530,563	$0	$1,591,689
2	$2,228,365	$557,091	$0	$1,671,274
3	$2,339,783	$584,946	$0	$1,754,837
4	$2,456,772	$614,193	$0	$1,842,579
5	$2,579,611	$644,903	$0	$1,934,708
6	$2,708,592	$677,148	$0	$2,031,444
7	$2,844,021	$711,005	$0	$2,133,016
8	$2,986,222	$746,556	$0	$2,239,667
9	$3,135,533	$783,883	$0	$2,351,650
10	$3,292,310	$823,077	$0	$2,469,232
11	$3,456,925	$864,231	$0	$2,592,694
12	$3,629,772	$907,443	$0	$2,722,329
13	$3,811,260	$952,815	$0	$2,858,445
14	$4,001,823	$1,000,456	$0	$3,001,368
15	$4,201,914	$1,050,479	$0	$3,151,436
16	$4,412,010	$1,103,003	$0	$3,309,008
17	$4,632,611	$1,158,153	$0	$3,474,458
18	$4,864,241	$1,216,060	$0	$3,648,181
19	$5,107,453	$1,276,863	$0	$3,830,590
20	$5,362,826	$1,340,707	$0	$4,022,120
21	$5,630,967	$1,407,742	$0	$4,223,225
22	$5,912,516	$1,478,129	$0	$4,434,387
23	$6,208,141	$1,552,035	$0	$4,656,106
24	$6,518,548	$1,629,637	$0	$4,888,911
25	$6,844,476	$1,711,119	$0	$5,133,357
26	$7,186,700	$1,796,675	$0	$5,390,025
27	$7,546,035	$1,886,509	$0	$5,659,526
28	$7,923,336	$1,980,834	$0	$5,942,502
29	$8,319,503	$2,079,876	$0	$6,239,627
30	$8,735,478	$2,183,870	$0	$6,551,609
Total	$141,000,000	$35,250,000	$0	$105,750,000

Credit: USAMega.com

Annuity

Cash

Powerball Jackpot for Sat, Jun 11, 2016

$141,000,000

$93,800,000

Gross Prize

30 average annual payments of $4,700,000

Lump-sum cash: $93,800,000

– 25% Federal Tax

– $1,175,000

– $23,450,000

Subtotal

$3,525,000

$70,350,000

State:

Florida

Drawing Date:

Sat, Jun 11, 2016

Jackpot:

$141,000,000

Federal Tax:

25% (When you file, it will be a lot more!)

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

$2,122,252

$530,563

$0

$1,591,689

2

$2,228,365

$557,091

$0

$1,671,274

3

$2,339,783

$584,946

$0

$1,754,837

4

$2,456,772

$614,193

$0

$1,842,579

5

$2,579,611

$644,903

$0

$1,934,708

6

$2,708,592

$677,148

$0

$2,031,444

7

$2,844,021

$711,005

$0

$2,133,016

8

$2,986,222

$746,556

$0

$2,239,667

9

$3,135,533

$783,883

$0

$2,351,650

10

$3,292,310

$823,077

$0