USA Mega

Idaho 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 Idaho, 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:

Idaho

Drawing Date:Wed, Feb 20, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$33,093$367,399
2$593,386$178,060$34,416$380,910
3$617,121$186,523$35,793$394,806
4$641,806$195,656$37,225$408,925
5$667,478$205,155$38,714$423,610
6$694,177$215,033$40,262$438,882
7$721,944$225,307$41,873$454,764
8$750,822$235,992$43,548$471,283
9$780,855$247,104$45,290$488,461
10$812,089$258,661$47,101$506,327
11$844,573$270,680$48,985$524,908
12$878,356$283,179$50,945$544,232
13$913,490$296,179$52,982$564,329
14$950,030$309,699$55,102$585,229
15$988,031$323,759$57,306$606,966
16$1,027,552$338,382$59,598$629,572
17$1,068,654$353,590$61,982$653,082
18$1,111,400$369,406$64,461$677,533
19$1,155,856$385,855$67,040$702,962
20$1,202,091$402,961$69,721$729,408
21$1,250,174$420,752$72,510$756,912
22$1,300,181$439,255$75,411$785,516
23$1,352,188$458,497$78,427$815,264
24$1,406,276$478,510$81,564$846,202
25$1,462,527$499,323$84,827$878,378
26$1,521,028$520,968$88,220$911,840
27$1,581,869$543,479$91,748$946,641
28$1,645,144$566,891$95,418$982,835
29$1,710,950$591,239$99,235$1,020,475
30$1,779,388$616,561$103,204$1,059,622
Total$32,000,000$10,586,728$1,856,001$19,557,273

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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.