Powerball Annuity Payments
Sold in 47 jurisdictions Drawn every Monday, Wednesday and Saturday at 10:59 PM ET $2 a play
A Powerball jackpot paid as an annuity is one payment right away and 29 yearly payments, each 5% bigger than the one before. Here is every payment for the next $562 Million jackpot.
Powerball · Next draw Wed, Oct 14, 10:59 PM ET
$562 Million
Cash value $230M · Draw in soon
- First payment$8.5M$5.3M after federal tax
- Last payment$34.8Myear 30
- Total$562M$354M after federal tax
- Cash instead$230M41% of the jackpot, at once
Payments by year
Millions of dollars per payment, before taxes.
All 30 payments
| Payment | Year | Before taxes | After 37% federal |
|---|---|---|---|
| 1 | 2026 | $8,458,906.52 | $5,329,111.11 |
| 2 | 2027 | $8,881,851.84 | $5,595,566.66 |
| 3 | 2028 | $9,325,944.43 | $5,875,344.99 |
| 4 | 2029 | $9,792,241.65 | $6,169,112.24 |
| 5 | 2030 | $10,281,853.74 | $6,477,567.86 |
| 6 | 2031 | $10,795,946.42 | $6,801,446.24 |
| 7 | 2032 | $11,335,743.75 | $7,141,518.56 |
| 8 | 2033 | $11,902,530.93 | $7,498,594.49 |
| 9 | 2034 | $12,497,657.48 | $7,873,524.21 |
| 10 | 2035 | $13,122,540.35 | $8,267,200.42 |
| 11 | 2036 | $13,778,667.37 | $8,680,560.44 |
| 12 | 2037 | $14,467,600.74 | $9,114,588.47 |
| 13 | 2038 | $15,190,980.78 | $9,570,317.89 |
| 14 | 2039 | $15,950,529.82 | $10,048,833.79 |
| 15 | 2040 | $16,748,056.31 | $10,551,275.48 |
| 16 | 2041 | $17,585,459.12 | $11,078,839.25 |
| 17 | 2042 | $18,464,732.08 | $11,632,781.21 |
| 18 | 2043 | $19,387,968.68 | $12,214,420.27 |
| 19 | 2044 | $20,357,367.12 | $12,825,141.29 |
| 20 | 2045 | $21,375,235.47 | $13,466,398.35 |
| 21 | 2046 | $22,443,997.24 | $14,139,718.26 |
| 22 | 2047 | $23,566,197.11 | $14,846,704.18 |
| 23 | 2048 | $24,744,506.96 | $15,589,039.38 |
| 24 | 2049 | $25,981,732.31 | $16,368,491.36 |
| 25 | 2050 | $27,280,818.93 | $17,186,915.93 |
| 26 | 2051 | $28,644,859.87 | $18,046,261.72 |
| 27 | 2052 | $30,077,102.87 | $18,948,574.81 |
| 28 | 2053 | $31,580,958.01 | $19,896,003.55 |
| 29 | 2054 | $33,160,005.91 | $20,890,803.72 |
| 30 | 2055 | $34,818,006.20 | $21,935,343.91 |
Estimate: the first payment is made when the prize is claimed, then one a year. State tax comes on top in most states: lottery tax by state.
Cash or annuity after your state's taxes: Powerball payout calculator
Questions
How much is the first payment of the $562 Million Powerball annuity?
$8,458,906.52 before taxes, about $5,329,111.11 after 37% federal tax. Each later payment is 5% bigger, up to $34,818,006.20 in year 30.
Is the annuity or the cash option better?
The cash value ($230 Million, 41% of the jackpot) is paid at once; the annuity pays the full $562 Million over 30 years. Most winners take the cash. It depends on taxes, your age and how you would invest it: ask a financial adviser.
What happens to the annuity if the winner dies?
The remaining payments go to the winner's estate. Ask the lottery that pays the prize how it handles this in your state.