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Powerball Annuity Jackpot Analysis for New Hampshire

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $32,000,000 would be for a resident of New Hampshire, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

New Hampshire

Drawing Date:  Sat, Nov 21, 2009
Jackpot:$32,000,000
Federal Tax:  25%
State Tax:10.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$142,641$57,056$370,866
2$593,386$148,346$59,339$385,701
3$617,121$154,280$61,712$401,129
4$641,806$160,451$64,181$417,174
5$667,478$166,870$66,748$433,861
6$694,177$173,544$69,418$451,215
7$721,944$180,486$72,194$469,264
8$750,822$187,706$75,082$488,034
9$780,855$195,214$78,086$507,556
10$812,089$203,022$81,209$527,858
11$844,573$211,143$84,457$548,972
12$878,356$219,589$87,836$570,931
13$913,490$228,373$91,349$593,769
14$950,030$237,507$95,003$617,519
15$988,031$247,008$98,803$642,220
16$1,027,552$256,888$102,755$667,909
17$1,068,654$267,164$106,865$694,625
18$1,111,400$277,850$111,140$722,410
19$1,155,856$288,964$115,586$751,307
20$1,202,091$300,523$120,209$781,359
21$1,250,174$312,544$125,017$812,613
22$1,300,181$325,045$130,018$845,118
23$1,352,188$338,047$135,219$878,922
24$1,406,276$351,569$140,628$914,079
25$1,462,527$365,632$146,253$950,643
26$1,521,028$380,257$152,103$988,668
27$1,581,869$395,467$158,187$1,028,215
28$1,645,144$411,286$164,514$1,069,344
29$1,710,950$427,737$171,095$1,112,117
30$1,779,388$444,847$177,939$1,156,602
Total$32,000,000$8,000,000$3,200,000$20,800,000
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