USA Mega

Idaho Powerball Jackpot Annuity Payout Schedule for Aug 28, 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 $55,300,000 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, Aug 28, 2002
Jackpot:$55,300,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$986,004$323,009$57,188$605,807
2$1,025,445$337,602$59,476$628,367
3$1,066,462$352,779$61,855$651,829
4$1,109,121$368,562$64,329$676,229
5$1,153,486$384,977$66,902$701,606
6$1,199,625$402,049$69,578$727,998
7$1,247,610$419,804$72,361$755,445
8$1,297,515$438,268$75,256$783,991
9$1,349,415$457,471$78,266$813,678
10$1,403,392$477,443$81,397$844,552
11$1,459,527$498,213$84,653$876,662
12$1,517,909$519,814$88,039$910,056
13$1,578,625$542,279$91,560$944,786
14$1,641,770$565,643$95,223$980,905
15$1,707,441$589,941$99,032$1,018,468
16$1,775,738$615,211$102,993$1,057,535
17$1,846,768$641,492$107,113$1,098,163
18$1,920,639$668,824$111,397$1,140,418
19$1,997,464$697,249$115,853$1,184,362
20$2,077,363$726,812$120,487$1,230,064
21$2,160,457$757,557$125,307$1,277,594
22$2,246,876$789,532$130,319$1,327,025
23$2,336,751$822,785$135,532$1,378,434
24$2,430,221$857,369$140,953$1,431,898
25$2,527,429$893,337$146,591$1,487,502
26$2,628,527$930,743$152,455$1,545,329
27$2,733,668$969,645$158,553$1,605,470
28$2,843,014$1,010,103$164,895$1,668,016
29$2,956,735$1,052,180$171,491$1,733,065
30$3,075,004$1,095,939$178,350$1,800,715
Total$55,300,000$19,206,632$3,207,404$32,885,969

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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.