USA Mega

California Powerball Jackpot Annuity Payout Schedule for Feb 20, 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 $32,000,000 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:Wed, Feb 20, 2002
Jackpot:$32,000,000
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$570,563$170,072$0$400,491
2$593,386$178,060$0$415,326
3$617,121$186,523$0$430,599
4$641,806$195,656$0$446,150
5$667,478$205,155$0$462,324
6$694,177$215,033$0$479,144
7$721,944$225,307$0$496,637
8$750,822$235,992$0$514,830
9$780,855$247,104$0$533,751
10$812,089$258,661$0$553,429
11$844,573$270,680$0$573,893
12$878,356$283,179$0$595,176
13$913,490$296,179$0$617,311
14$950,030$309,699$0$640,331
15$988,031$323,759$0$664,272
16$1,027,552$338,382$0$689,170
17$1,068,654$353,590$0$715,064
18$1,111,400$369,406$0$741,994
19$1,155,856$385,855$0$770,002
20$1,202,091$402,961$0$799,129
21$1,250,174$420,752$0$829,422
22$1,300,181$439,255$0$860,926
23$1,352,188$458,497$0$893,691
24$1,406,276$478,510$0$927,766
25$1,462,527$499,323$0$963,204
26$1,521,028$520,968$0$1,000,060
27$1,581,869$543,479$0$1,038,390
28$1,645,144$566,891$0$1,078,253
29$1,710,950$591,239$0$1,119,711
30$1,779,388$616,561$0$1,162,826
Total$32,000,000$10,586,728$0$21,413,272

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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.