USA Mega

Georgia 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 Georgia, 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:

Georgia

Drawing Date:Sat, Dec 15, 2001
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,282$70,223$15,662$199,396
2$296,693$74,217$16,288$206,187
3$308,561$78,371$16,940$213,250
4$320,903$82,691$17,618$220,595
5$333,739$87,183$18,322$228,233
6$347,089$91,856$19,055$236,178
7$360,972$96,715$19,817$244,440
8$375,411$101,769$20,610$253,032
9$390,428$107,024$21,434$261,969
10$406,045$112,490$22,292$271,262
11$422,286$118,175$23,184$280,928
12$439,178$124,087$24,111$290,980
13$456,745$130,236$25,075$301,434
14$475,015$136,630$26,078$312,307
15$494,015$143,280$27,121$323,614
16$513,776$150,196$28,206$335,373
17$534,327$157,389$29,335$347,603
18$555,700$164,870$30,508$360,322
19$577,928$172,650$31,728$373,550
20$601,045$180,741$32,997$387,307
21$625,087$189,470$34,317$401,300
22$650,091$198,721$35,690$415,679
23$676,094$208,343$37,118$430,634
24$703,138$218,349$38,602$446,187
25$731,263$228,755$40,146$462,362
26$760,514$239,578$41,752$479,184
27$790,935$250,834$43,422$496,679
28$822,572$262,539$45,159$514,873
29$855,475$274,713$46,966$533,796
30$889,694$287,374$48,844$553,475
Total$16,000,000$4,739,469$878,397$10,382,129

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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.