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Powerball Analysis Payout Amount by State

Topic closed. 9 replies. Last post 11 months ago by Todd.

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FLATRANSPLANT's avatar - yocco
South Florida
United States
Member #71280
February 22, 2009
15309 Posts
Offline
Posted: January 11, 2016, 7:42 pm - IP Logged

Powerball Jackpot for Wed, Jan 13, 2016   $1,400,000,000      $868,000,000

Gross Prize     30 average annual payments of $46,666,667
Lump-sum cash: $868,000,000
- 25% Federal Tax     - $11,666,667
- $217,000,000
Subtotal     
$35,000,000
$651,000,000
- State Tax:

Arizona: 5% State Tax for In-State Residents     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

Non-Arizona Residents: 6% State Tax     - $2,800,000
- $52,080,000
Your average net per year: $32,200,000          Your net payout: $598,920,000
After 30 payments: $966,000,000
Annuity Payment Schedule

Arkansas: 7% State Tax     - $3,266,667
- $60,760,000
Your average net per year: $31,733,333          Your net payout: $590,240,000
After 30 payments: $951,999,990
Annuity Payment Schedule

California: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Colorado: 4% State Tax     - $1,866,667
- $34,720,000
Your average net per year: $33,133,333          Your net payout: $616,280,000
After 30 payments: $993,999,990
Annuity Payment Schedule

Connecticut: 6.7% State Tax     - $3,126,667
- $58,156,000
Your average net per year: $31,873,333          Your net payout: $592,844,000
After 30 payments: $956,199,990
Annuity Payment Schedule

Delaware: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Florida: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Georgia: 6% State Tax     - $2,800,000
- $52,080,000
Your average net per year: $32,200,000          Your net payout: $598,920,000
After 30 payments: $966,000,000
Annuity Payment Schedule

Idaho: 7.4% State Tax     - $3,453,333
- $64,232,000
Your average net per year: $31,546,667          Your net payout: $586,768,000
After 30 payments: $946,400,010
Annuity Payment Schedule

Illinois: 3.75% State Tax     - $1,750,000
- $32,550,000
Your average net per year: $33,250,000          Your net payout: $618,450,000
After 30 payments: $997,500,000
Annuity Payment Schedule

Indiana: 3.4% State Tax     - $1,586,667
- $29,512,000
Your average net per year: $33,413,333          Your net payout: $621,488,000
After 30 payments: $1,002,399,990
Annuity Payment Schedule

Iowa: 5% State Tax     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

Kansas: 5% State Tax     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

Kentucky: 6% State Tax     - $2,800,000
- $52,080,000
Your average net per year: $32,200,000          Your net payout: $598,920,000
After 30 payments: $966,000,000
Annuity Payment Schedule

Louisiana: 5% State Tax     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

Maine: 5% State Tax     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

Maryland: 8.75% State Tax for In-State Residents     - $4,083,333
- $75,950,000
Your average net per year: $30,916,667          Your net payout: $575,050,000
After 30 payments: $927,500,010
Annuity Payment Schedule

Non-Maryland Residents: 7.5% State Tax     - $3,500,000
- $65,100,000
Your average net per year: $31,500,000          Your net payout: $585,900,000
After 30 payments: $945,000,000
Annuity Payment Schedule

Massachusetts: 5% State Tax     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

Michigan: 4.25% State Tax     - $1,983,333
- $36,890,000
Your average net per year: $33,016,667          Your net payout: $614,110,000
After 30 payments: $990,500,010
Annuity Payment Schedule

Minnesota: 7.25% State Tax     - $3,383,333
- $62,930,000
Your average net per year: $31,616,667          Your net payout: $588,070,000
After 30 payments: $948,500,010
Annuity Payment Schedule

Missouri: 4% State Tax     - $1,866,667
- $34,720,000
Your average net per year: $33,133,333          Your net payout: $616,280,000
After 30 payments: $993,999,990
Annuity Payment Schedule

Montana: 6.9% State Tax     - $3,220,000
- $59,892,000
Your average net per year: $31,780,000          Your net payout: $591,108,000
After 30 payments: $953,400,000
Annuity Payment Schedule

Nebraska: 5% State Tax     - $2,333,333
- $43,400,000
Your average net per year: $32,666,667          Your net payout: $607,600,000
After 30 payments: $980,000,010
Annuity Payment Schedule

New Hampshire: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

New Jersey: 3% State Tax     - $1,400,000
- $26,040,000
Your average net per year: $33,600,000          Your net payout: $624,960,000
After 30 payments: $1,008,000,000
Annuity Payment Schedule

New Mexico: 6% State Tax     - $2,800,000
- $52,080,000
Your average net per year: $32,200,000          Your net payout: $598,920,000
After 30 payments: $966,000,000
Annuity Payment Schedule

New York: 8.82% State Tax�     - $4,116,000
- $76,557,600
Your average net per year: $30,884,000          Your net payout: $574,442,400
After 30 payments: $926,520,000
Annuity Payment Schedule

North Carolina: 5.75% State Tax     - $2,683,333
- $49,910,000
Your average net per year: $32,316,667          Your net payout: $601,090,000
After 30 payments: $969,500,010
Annuity Payment Schedule

North Dakota: 3.99% State Tax     - $1,862,000
- $34,633,200
Your average net per year: $33,138,000          Your net payout: $616,366,800
After 30 payments: $994,140,000
Annuity Payment Schedule

Ohio: 4% State Tax     - $1,866,667
- $34,720,000
Your average net per year: $33,133,333          Your net payout: $616,280,000
After 30 payments: $993,999,990
Annuity Payment Schedule

Oklahoma: 4% State Tax     - $1,866,667
- $34,720,000
Your average net per year: $33,133,333          Your net payout: $616,280,000
After 30 payments: $993,999,990
Annuity Payment Schedule

Oregon: 8% State Tax     - $3,733,333
- $69,440,000
Your average net per year: $31,266,667          Your net payout: $581,560,000
After 30 payments: $938,000,010
Annuity Payment Schedule

Pennsylvania: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Puerto Rico: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Rhode Island: 5.99% State Tax     - $2,795,333
- $51,993,200
Your average net per year: $32,204,667          Your net payout: $599,006,800
After 30 payments: $966,140,010
Annuity Payment Schedule

South Carolina: 7% State Tax     - $3,266,667
- $60,760,000
Your average net per year: $31,733,333          Your net payout: $590,240,000
After 30 payments: $951,999,990
Annuity Payment Schedule

South Dakota: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Tennessee: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Texas: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

U.S. Virgin Islands: Unknown State Tax Rate     - $0
- $0
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Vermont: 6% State Tax     - $2,800,000
- $52,080,000
Your average net per year: $32,200,000          Your net payout: $598,920,000
After 30 payments: $966,000,000
Annuity Payment Schedule

Virginia: 4% State Tax     - $1,866,667
- $34,720,000
Your average net per year: $33,133,333          Your net payout: $616,280,000
After 30 payments: $993,999,990
Annuity Payment Schedule

Washington: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule

Washington, D.C.: 8.5% State Tax     - $3,966,667
- $73,780,000
Your average net per year: $31,033,333          Your net payout: $577,220,000
After 30 payments: $930,999,990
Annuity Payment Schedule

West Virginia: 6.5% State Tax     - $3,033,333
- $56,420,000
Your average net per year: $31,966,667          Your net payout: $594,580,000
After 30 payments: $959,000,010
Annuity Payment Schedule

Wisconsin: 7.75% State Tax     - $3,616,667
- $67,270,000
Your average net per year: $31,383,333          Your net payout: $583,730,000
After 30 payments: $941,499,990
Annuity Payment Schedule

Wyoming: No State Tax on Lottery Prizes!
Your average net per year: $35,000,000          Your net payout: $651,000,000
After 30 payments: $1,050,000,000
Annuity Payment Schedule
� New York imposes additional withholding if you live in one of the following jurisdictions: New York City (3.876%) and Yonkers (1.323%).
IMPORTANT NOTES

The jackpot numbers are estimates rounded to the nearest million dollars.
All of the tax amounts listed above are the taxes withheld at the time of the prize award, not your exact final tax burden.  Since every individual winner's situation differs, and every winner chooses to dispense their winnings in a different manner, there is no way for us to determine what your final tax burden will be.  For example, someone who gives away a large amount to charities would have a vastly different tax burden than someone who buys new cars and houses.  The chart above provides the information that we know for sure: the money that you will initially receive from the lottery.
We are fully aware that the tax rates listed for some states on this page are different than the states' current income and sales tax rates.  The state tax rate withheld by the lottery at the time the prize is awarded is oftentimes different than what you would expect to be withheld ("standard" state tax rates).  Because of the reason discussed in Note #2, states often try to keep from withholding too much, because they know that many lottery winners do not end up paying a flat (insert highest tax rate here) percent of their winnings in taxes.  There are many ways to reduce the tax burden, which is why it is so important to obtain the services of a top-notch professional accountant before claiming the big prize.
The jurisdiction in which you live may impose additional local taxes, beyond those listed here. Please verify all information with your local government tax agency.
State lotteries typically deduct other amounts from prize payments, such as child support payments, back taxes owed, outstanding student loans, and other government agency responsibilities.
If you are not a U.S. resident, you will typically have a flat 30% federal withholding, and state taxes may differ from what is listed above.  Consult with your local government tax authority for more information if you are not a U.S. resident.  The 30% flat withholding is a dictate by the Internal Revenue Service, in conjunction with the Federal Government, not something created by the state lottery.  Therefore, questions about the purpose of the withholding should be directed to the IRS (1-800-424-1040).
The states modify their tax withholding rates from time to time, and this chart is accurate as to our latest information we could track down.  It is possible that the tax rate provided above is outdated, although we try not to let that happen.  If you are aware of a percentage being out of date, please contact us to let us know, and we will update it.  Please only contact us about lottery withholding rates, not the state income tax or sales tax rate.  See Note #3 for more information.
If you are viewing the Jackpot Analysis for a past drawing date, keep in mind you are viewing the application of the current tax rates against past jackpot amounts.  If the tax rates for a state have changed since that drawing date, the report is not an accurate snapshot of the taxes that would have been withheld on that date in history.  Instead, you are looking at the taxes that would be withheld if the jackpot were won today.  However, if a state's tax withholding rate has not changed, the report is an accurate snapshot of that date in history.
If you win the jackpot, consult a good accountant and tax attorney for ways to minimize your tax liability.  Consider donating a substantial amount to the owner of this Web site, because he gave you such great advice when you needed it most.

    LottoMomma's avatar - strawberry
    Michigan
    United States
    Member #100025
    November 4, 2010
    158 Posts
    Offline
    Posted: January 13, 2016, 3:13 pm - IP Logged

    Powerball Jackpot for Wed, Jan 13, 2016   $1,400,000,000      $868,000,000

    Gross Prize     30 average annual payments of $46,666,667
    Lump-sum cash: $868,000,000
    - 25% Federal Tax     - $11,666,667
    - $217,000,000
    Subtotal     
    $35,000,000
    $651,000,000
    - State Tax:

    Arizona: 5% State Tax for In-State Residents     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    Non-Arizona Residents: 6% State Tax     - $2,800,000
    - $52,080,000
    Your average net per year: $32,200,000          Your net payout: $598,920,000
    After 30 payments: $966,000,000
    Annuity Payment Schedule

    Arkansas: 7% State Tax     - $3,266,667
    - $60,760,000
    Your average net per year: $31,733,333          Your net payout: $590,240,000
    After 30 payments: $951,999,990
    Annuity Payment Schedule

    California: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Colorado: 4% State Tax     - $1,866,667
    - $34,720,000
    Your average net per year: $33,133,333          Your net payout: $616,280,000
    After 30 payments: $993,999,990
    Annuity Payment Schedule

    Connecticut: 6.7% State Tax     - $3,126,667
    - $58,156,000
    Your average net per year: $31,873,333          Your net payout: $592,844,000
    After 30 payments: $956,199,990
    Annuity Payment Schedule

    Delaware: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Florida: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Georgia: 6% State Tax     - $2,800,000
    - $52,080,000
    Your average net per year: $32,200,000          Your net payout: $598,920,000
    After 30 payments: $966,000,000
    Annuity Payment Schedule

    Idaho: 7.4% State Tax     - $3,453,333
    - $64,232,000
    Your average net per year: $31,546,667          Your net payout: $586,768,000
    After 30 payments: $946,400,010
    Annuity Payment Schedule

    Illinois: 3.75% State Tax     - $1,750,000
    - $32,550,000
    Your average net per year: $33,250,000          Your net payout: $618,450,000
    After 30 payments: $997,500,000
    Annuity Payment Schedule

    Indiana: 3.4% State Tax     - $1,586,667
    - $29,512,000
    Your average net per year: $33,413,333          Your net payout: $621,488,000
    After 30 payments: $1,002,399,990
    Annuity Payment Schedule

    Iowa: 5% State Tax     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    Kansas: 5% State Tax     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    Kentucky: 6% State Tax     - $2,800,000
    - $52,080,000
    Your average net per year: $32,200,000          Your net payout: $598,920,000
    After 30 payments: $966,000,000
    Annuity Payment Schedule

    Louisiana: 5% State Tax     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    Maine: 5% State Tax     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    Maryland: 8.75% State Tax for In-State Residents     - $4,083,333
    - $75,950,000
    Your average net per year: $30,916,667          Your net payout: $575,050,000
    After 30 payments: $927,500,010
    Annuity Payment Schedule

    Non-Maryland Residents: 7.5% State Tax     - $3,500,000
    - $65,100,000
    Your average net per year: $31,500,000          Your net payout: $585,900,000
    After 30 payments: $945,000,000
    Annuity Payment Schedule

    Massachusetts: 5% State Tax     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    Michigan: 4.25% State Tax     - $1,983,333
    - $36,890,000
    Your average net per year: $33,016,667          Your net payout: $614,110,000
    After 30 payments: $990,500,010
    Annuity Payment Schedule

    Minnesota: 7.25% State Tax     - $3,383,333
    - $62,930,000
    Your average net per year: $31,616,667          Your net payout: $588,070,000
    After 30 payments: $948,500,010
    Annuity Payment Schedule

    Missouri: 4% State Tax     - $1,866,667
    - $34,720,000
    Your average net per year: $33,133,333          Your net payout: $616,280,000
    After 30 payments: $993,999,990
    Annuity Payment Schedule

    Montana: 6.9% State Tax     - $3,220,000
    - $59,892,000
    Your average net per year: $31,780,000          Your net payout: $591,108,000
    After 30 payments: $953,400,000
    Annuity Payment Schedule

    Nebraska: 5% State Tax     - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667          Your net payout: $607,600,000
    After 30 payments: $980,000,010
    Annuity Payment Schedule

    New Hampshire: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    New Jersey: 3% State Tax     - $1,400,000
    - $26,040,000
    Your average net per year: $33,600,000          Your net payout: $624,960,000
    After 30 payments: $1,008,000,000
    Annuity Payment Schedule

    New Mexico: 6% State Tax     - $2,800,000
    - $52,080,000
    Your average net per year: $32,200,000          Your net payout: $598,920,000
    After 30 payments: $966,000,000
    Annuity Payment Schedule

    New York: 8.82% State Tax�     - $4,116,000
    - $76,557,600
    Your average net per year: $30,884,000          Your net payout: $574,442,400
    After 30 payments: $926,520,000
    Annuity Payment Schedule

    North Carolina: 5.75% State Tax     - $2,683,333
    - $49,910,000
    Your average net per year: $32,316,667          Your net payout: $601,090,000
    After 30 payments: $969,500,010
    Annuity Payment Schedule

    North Dakota: 3.99% State Tax     - $1,862,000
    - $34,633,200
    Your average net per year: $33,138,000          Your net payout: $616,366,800
    After 30 payments: $994,140,000
    Annuity Payment Schedule

    Ohio: 4% State Tax     - $1,866,667
    - $34,720,000
    Your average net per year: $33,133,333          Your net payout: $616,280,000
    After 30 payments: $993,999,990
    Annuity Payment Schedule

    Oklahoma: 4% State Tax     - $1,866,667
    - $34,720,000
    Your average net per year: $33,133,333          Your net payout: $616,280,000
    After 30 payments: $993,999,990
    Annuity Payment Schedule

    Oregon: 8% State Tax     - $3,733,333
    - $69,440,000
    Your average net per year: $31,266,667          Your net payout: $581,560,000
    After 30 payments: $938,000,010
    Annuity Payment Schedule

    Pennsylvania: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Puerto Rico: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Rhode Island: 5.99% State Tax     - $2,795,333
    - $51,993,200
    Your average net per year: $32,204,667          Your net payout: $599,006,800
    After 30 payments: $966,140,010
    Annuity Payment Schedule

    South Carolina: 7% State Tax     - $3,266,667
    - $60,760,000
    Your average net per year: $31,733,333          Your net payout: $590,240,000
    After 30 payments: $951,999,990
    Annuity Payment Schedule

    South Dakota: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Tennessee: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Texas: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    U.S. Virgin Islands: Unknown State Tax Rate     - $0
    - $0
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Vermont: 6% State Tax     - $2,800,000
    - $52,080,000
    Your average net per year: $32,200,000          Your net payout: $598,920,000
    After 30 payments: $966,000,000
    Annuity Payment Schedule

    Virginia: 4% State Tax     - $1,866,667
    - $34,720,000
    Your average net per year: $33,133,333          Your net payout: $616,280,000
    After 30 payments: $993,999,990
    Annuity Payment Schedule

    Washington: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule

    Washington, D.C.: 8.5% State Tax     - $3,966,667
    - $73,780,000
    Your average net per year: $31,033,333          Your net payout: $577,220,000
    After 30 payments: $930,999,990
    Annuity Payment Schedule

    West Virginia: 6.5% State Tax     - $3,033,333
    - $56,420,000
    Your average net per year: $31,966,667          Your net payout: $594,580,000
    After 30 payments: $959,000,010
    Annuity Payment Schedule

    Wisconsin: 7.75% State Tax     - $3,616,667
    - $67,270,000
    Your average net per year: $31,383,333          Your net payout: $583,730,000
    After 30 payments: $941,499,990
    Annuity Payment Schedule

    Wyoming: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000          Your net payout: $651,000,000
    After 30 payments: $1,050,000,000
    Annuity Payment Schedule
    � New York imposes additional withholding if you live in one of the following jurisdictions: New York City (3.876%) and Yonkers (1.323%).
    IMPORTANT NOTES

    The jackpot numbers are estimates rounded to the nearest million dollars.
    All of the tax amounts listed above are the taxes withheld at the time of the prize award, not your exact final tax burden.  Since every individual winner's situation differs, and every winner chooses to dispense their winnings in a different manner, there is no way for us to determine what your final tax burden will be.  For example, someone who gives away a large amount to charities would have a vastly different tax burden than someone who buys new cars and houses.  The chart above provides the information that we know for sure: the money that you will initially receive from the lottery.
    We are fully aware that the tax rates listed for some states on this page are different than the states' current income and sales tax rates.  The state tax rate withheld by the lottery at the time the prize is awarded is oftentimes different than what you would expect to be withheld ("standard" state tax rates).  Because of the reason discussed in Note #2, states often try to keep from withholding too much, because they know that many lottery winners do not end up paying a flat (insert highest tax rate here) percent of their winnings in taxes.  There are many ways to reduce the tax burden, which is why it is so important to obtain the services of a top-notch professional accountant before claiming the big prize.
    The jurisdiction in which you live may impose additional local taxes, beyond those listed here. Please verify all information with your local government tax agency.
    State lotteries typically deduct other amounts from prize payments, such as child support payments, back taxes owed, outstanding student loans, and other government agency responsibilities.
    If you are not a U.S. resident, you will typically have a flat 30% federal withholding, and state taxes may differ from what is listed above.  Consult with your local government tax authority for more information if you are not a U.S. resident.  The 30% flat withholding is a dictate by the Internal Revenue Service, in conjunction with the Federal Government, not something created by the state lottery.  Therefore, questions about the purpose of the withholding should be directed to the IRS (1-800-424-1040).
    The states modify their tax withholding rates from time to time, and this chart is accurate as to our latest information we could track down.  It is possible that the tax rate provided above is outdated, although we try not to let that happen.  If you are aware of a percentage being out of date, please contact us to let us know, and we will update it.  Please only contact us about lottery withholding rates, not the state income tax or sales tax rate.  See Note #3 for more information.
    If you are viewing the Jackpot Analysis for a past drawing date, keep in mind you are viewing the application of the current tax rates against past jackpot amounts.  If the tax rates for a state have changed since that drawing date, the report is not an accurate snapshot of the taxes that would have been withheld on that date in history.  Instead, you are looking at the taxes that would be withheld if the jackpot were won today.  However, if a state's tax withholding rate has not changed, the report is an accurate snapshot of that date in history.
    If you win the jackpot, consult a good accountant and tax attorney for ways to minimize your tax liability.  Consider donating a substantial amount to the owner of this Web site, because he gave you such great advice when you needed it most.

    GOOD POST!

     

    LM

    See Ya!

      Candlelight777's avatar - nw saucyelf.jpg
      Indiana
      United States
      Member #150273
      December 18, 2013
      495 Posts
      Offline
      Posted: January 13, 2016, 5:32 pm - IP Logged

      Awesome post!! Hurray!

      "Without wood a fire goes out; without gossip, conflict calms down.

      Like adding charcoal to embers or wood to fire, quarrelsome people kindle strife."

      Proverbs 26: 20-21

        Avatar
        The land of Canals
        United States
        Member #137589
        January 7, 2013
        168 Posts
        Offline
        Posted: January 13, 2016, 8:35 pm - IP Logged

        A winning post!

        “A day without sunshine is like, you know, night.” 
         Steve Martin

        Cool

          Raven62's avatar - binary
          New Jersey
          United States
          Member #17843
          June 28, 2005
          49610 Posts
          Offline
          Posted: January 13, 2016, 9:15 pm - IP Logged

          For this and future drawings: https://www.usamega.com/powerball-jackpot.asp

          A mind once stretched by a new idea never returns to its original dimensions!

            Todd's avatar - Cylon 2.gif
            Chief Bottle Washer
            New Jersey
            United States
            Member #1
            May 31, 2000
            23258 Posts
            Offline
            Posted: January 13, 2016, 9:50 pm - IP Logged

            Awesome post!! Hurray!

            Just be aware that the post was a copy-and-paste of the Jackpot Analysis page at USA Mega.  I would greatly prefer that people NOT copy and paste text from either Lottery Post or USA Mega into a message in the forums.  Instead, they should only post a LINK to the page they would like to talk about -- and then they should add THEIR OWN commentary about it.

            If all someone wants to say is something that I have already written, then that's not a valid forum post.  People should be writing their own thoughts.

             

            Check the State Lottery Report Card
            What grade did your lottery earn?

             

            Sign the Petition for True Lottery Drawings
            Help eliminate computerized drawings!

              Avatar
              Framingham,Ma
              United States
              Member #87369
              February 23, 2010
              50 Posts
              Offline
              Posted: January 17, 2016, 2:55 pm - IP Logged

              Hi Todd, love your post and advice and info on this website, very well done and most informative anywhere on the web. Quick question under Analysis page cash payout and Federal holdings is 25% how come it is not 39.6% as I thought all gambling is taxed at 39.6 %...I might be wrong, if so sorry. just wondering

              Bill thanks and have a nice day

                sirbrad's avatar - Lottery-062.jpg
                PA
                United States
                Member #22983
                October 6, 2005
                2226 Posts
                Offline
                Posted: January 17, 2016, 3:03 pm - IP Logged

                Yeah, I was wondering WTF someone copied and pasted the full payouts from the USA Mega site and with no link or credit. If you did not own it that would be stealing intellectual property and posting it as their own. I figured they must be new here, then saw they had 14,000 posts since 2009...Would have made more sense to post it when it was $1.6 billion not now.

                WTF.....

                Thinking of...

                  Avatar
                  Wyomissing, PA
                  United States
                  Member #161050
                  November 15, 2014
                  301 Posts
                  Offline
                  Posted: January 17, 2016, 3:29 pm - IP Logged

                  Hi Todd, love your post and advice and info on this website, very well done and most informative anywhere on the web. Quick question under Analysis page cash payout and Federal holdings is 25% how come it is not 39.6% as I thought all gambling is taxed at 39.6 %...I might be wrong, if so sorry. just wondering

                  Bill thanks and have a nice day

                  The chart is showing the approx amount the winner will receive. It's not the amount the winner will finally get to keep, since, as you point out, the max tax rate for income is 39.6%. While it's possible some winners may be able to net close to the values shown in the table depending on their specific circumstances and how they utilize the money, most will not; they'll owe the IRS money. As it stands now, the numbers shown are inflated by upwards of 20%.

                  It would be helpful, if the table was revised (or an additional one added) showing the likely minimum amount the winner will receive.

                    Todd's avatar - Cylon 2.gif
                    Chief Bottle Washer
                    New Jersey
                    United States
                    Member #1
                    May 31, 2000
                    23258 Posts
                    Offline
                    Posted: January 17, 2016, 4:52 pm - IP Logged

                    Hi Todd, love your post and advice and info on this website, very well done and most informative anywhere on the web. Quick question under Analysis page cash payout and Federal holdings is 25% how come it is not 39.6% as I thought all gambling is taxed at 39.6 %...I might be wrong, if so sorry. just wondering

                    Bill thanks and have a nice day

                    The notes at the bottom of the Jackpot Analysis page are very detailed. Have you checked them out?

                     

                    Check the State Lottery Report Card
                    What grade did your lottery earn?

                     

                    Sign the Petition for True Lottery Drawings
                    Help eliminate computerized drawings!