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Powerball Annuity Jackpot Analysis for Massachusetts

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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 $133,000,000 would be for a resident of Massachusetts, 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:

Massachusetts

Drawing Date:  Sat, Sep 5, 2015
Jackpot:$133,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,371,403$592,851$118,570$1,659,982
2$2,466,259$616,565$123,313$1,726,382
3$2,564,910$641,227$128,245$1,795,437
4$2,667,506$666,877$133,375$1,867,254
5$2,774,206$693,552$138,710$1,941,944
6$2,885,175$721,294$144,259$2,019,622
7$3,000,582$750,145$150,029$2,100,407
8$3,120,605$780,151$156,030$2,184,423
9$3,245,429$811,357$162,271$2,271,800
10$3,375,246$843,812$168,762$2,362,672
11$3,510,256$877,564$175,513$2,457,179
12$3,650,666$912,667$182,533$2,555,466
13$3,796,693$949,173$189,835$2,657,685
14$3,948,561$987,140$197,428$2,763,992
15$4,106,503$1,026,626$205,325$2,874,552
16$4,270,763$1,067,691$213,538$2,989,534
17$4,441,594$1,110,398$222,080$3,109,116
18$4,619,257$1,154,814$230,963$3,233,480
19$4,804,028$1,201,007$240,201$3,362,819
20$4,996,189$1,249,047$249,809$3,497,332
21$5,196,036$1,299,009$259,802$3,637,225
22$5,403,878$1,350,969$270,194$3,782,714
23$5,620,033$1,405,008$281,002$3,934,023
24$5,844,834$1,461,209$292,242$4,091,384
25$6,078,628$1,519,657$303,931$4,255,039
26$6,321,773$1,580,443$316,089$4,425,241
27$6,574,644$1,643,661$328,732$4,602,251
28$6,837,629$1,709,407$341,881$4,786,341
29$7,111,135$1,777,784$355,557$4,977,794
30$7,395,580$1,848,895$369,779$5,176,906
Total$133,000,000$33,250,000$6,650,000$93,100,000
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