USA Mega

California Powerball Jackpot Annuity Payout Schedule for Dec 15, 2001

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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 $16,000,000 for a ticket purchased in California, 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:

California

Drawing Date:Sat, Dec 15, 2001
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,282$70,223$0$215,058
2$296,693$74,217$0$222,476
3$308,561$78,371$0$230,190
4$320,903$82,691$0$238,212
5$333,739$87,183$0$246,556
6$347,089$91,856$0$255,233
7$360,972$96,715$0$264,257
8$375,411$101,769$0$273,642
9$390,428$107,024$0$283,403
10$406,045$112,490$0$293,554
11$422,286$118,175$0$304,111
12$439,178$124,087$0$315,091
13$456,745$130,236$0$326,510
14$475,015$136,630$0$338,385
15$494,015$143,280$0$350,735
16$513,776$150,196$0$363,580
17$534,327$157,389$0$376,938
18$555,700$164,870$0$390,830
19$577,928$172,650$0$405,279
20$601,045$180,741$0$420,305
21$625,087$189,470$0$435,617
22$650,091$198,721$0$451,369
23$676,094$208,343$0$467,752
24$703,138$218,349$0$484,789
25$731,263$228,755$0$502,508
26$760,514$239,578$0$520,936
27$790,935$250,834$0$540,101
28$822,572$262,539$0$560,033
29$855,475$274,713$0$580,761
30$889,694$287,374$0$602,319
Total$16,000,000$4,739,469$0$11,260,530

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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.