USA Mega

Arkansas Powerball Jackpot Annuity Payout Schedule for Aug 31, 2002

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $62,400,000 for a ticket purchased in Arkansas, 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Arkansas

Drawing Date:Sat, Aug 31, 2002
Jackpot:$62,400,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,112,598$369,849$48,954$693,795
2$1,157,102$386,316$50,912$719,874
3$1,203,386$403,441$52,949$746,997
4$1,251,522$421,251$55,067$775,204
5$1,301,583$439,773$57,270$804,540
6$1,353,646$459,037$59,560$835,049
7$1,407,792$479,071$61,943$866,778
8$1,464,103$499,906$64,421$899,777
9$1,522,667$521,575$66,997$934,095
10$1,583,574$544,110$69,677$969,787
11$1,646,917$567,547$72,464$1,006,906
12$1,712,794$591,921$75,363$1,045,509
13$1,781,306$617,271$78,377$1,085,657
14$1,852,558$643,634$81,513$1,127,411
15$1,926,660$671,052$84,773$1,170,835
16$2,003,726$699,567$88,164$1,215,996
17$2,083,876$729,222$91,691$1,262,963
18$2,167,231$760,063$95,358$1,311,809
19$2,253,920$792,138$99,172$1,362,609
20$2,344,077$825,496$103,139$1,415,441
21$2,437,840$860,188$107,265$1,470,386
22$2,535,353$896,268$111,556$1,527,529
23$2,636,767$933,792$116,018$1,586,958
24$2,742,238$972,816$120,658$1,648,764
25$2,851,928$1,013,401$125,485$1,713,042
26$2,966,005$1,055,609$130,504$1,779,891
27$3,084,645$1,099,506$135,724$1,849,414
28$3,208,031$1,145,159$141,153$1,921,718
29$3,336,352$1,192,638$146,799$1,996,914
30$3,469,806$1,242,016$152,671$2,075,119
Total$62,400,000$21,833,633$2,745,597$37,820,767

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.