USA Mega

Georgia 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 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:Wed, Feb 20, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$31,324$369,167
2$593,386$178,060$32,577$382,749
3$617,121$186,523$33,880$396,719
4$641,806$195,656$35,235$410,915
5$667,478$205,155$36,645$425,679
6$694,177$215,033$38,110$441,034
7$721,944$225,307$39,635$457,002
8$750,822$235,992$41,220$473,610
9$780,855$247,104$42,869$490,882
10$812,089$258,661$44,584$508,845
11$844,573$270,680$46,367$527,526
12$878,356$283,179$48,222$546,955
13$913,490$296,179$50,151$567,160
14$950,030$309,699$52,157$588,174
15$988,031$323,759$54,243$610,029
16$1,027,552$338,382$56,413$632,757
17$1,068,654$353,590$58,669$656,395
18$1,111,400$369,406$61,016$680,979
19$1,155,856$385,855$63,457$706,545
20$1,202,091$402,961$65,995$733,135
21$1,250,174$420,752$68,635$760,787
22$1,300,181$439,255$71,380$789,546
23$1,352,188$458,497$74,235$819,456
24$1,406,276$478,510$77,205$850,562
25$1,462,527$499,323$80,293$882,912
26$1,521,028$520,968$83,504$916,555
27$1,581,869$543,479$86,845$951,545
28$1,645,144$566,891$90,318$987,935
29$1,710,950$591,239$93,931$1,025,779
30$1,779,388$616,561$97,688$1,065,138
Total$32,000,000$10,586,728$1,756,803$19,656,472

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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.