USA Mega

Georgia Powerball Jackpot Annuity Payout Schedule for May 18, 2002

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $10,000,000 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, May 18, 2002
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 5.49%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$178,301$35,835$9,789$132,678
2$185,433$37,546$10,180$137,706
3$192,850$39,399$10,587$142,864
4$200,564$41,867$11,011$147,686
5$208,587$44,434$11,451$152,701
6$216,930$47,104$11,909$157,917
7$225,608$49,881$12,386$163,341
8$234,632$52,769$12,881$168,982
9$244,017$55,781$13,397$174,840
10$253,778$59,197$13,932$180,648
11$263,929$62,750$14,490$186,689
12$274,486$66,445$15,069$192,972
13$285,466$70,288$15,672$199,506
14$296,884$74,284$16,299$206,301
15$308,760$78,441$16,951$213,368
16$321,110$82,763$17,629$220,718
17$333,954$87,259$18,334$228,362
18$347,313$91,934$19,067$236,311
19$361,205$96,797$19,830$244,578
20$375,653$101,853$20,623$253,177
21$390,679$107,113$21,448$262,119
22$406,307$112,582$22,306$271,418
23$422,559$118,270$23,198$281,090
24$439,461$124,186$24,126$291,149
25$457,040$130,339$25,091$301,610
26$475,321$136,737$26,095$312,489
27$494,334$143,392$27,139$323,803
28$514,107$150,312$28,225$335,571
29$534,672$157,510$29,353$347,808
30$556,059$164,995$30,528$360,536
Total$10,000,000$2,622,063$548,996$6,828,938

◄ Back to Jackpot Analysis

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.