USA Mega

Kentucky Powerball Jackpot Annuity Payout Schedule for Jul 17, 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 $35,000,000 for a ticket purchased in Kentucky, 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:

Kentucky

Drawing Date:Wed, Jul 17, 2002
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$624,053$189,088$24,962$410,004
2$649,016$198,324$25,961$424,731
3$674,976$207,929$26,999$440,048
4$701,975$217,919$28,079$455,978
5$730,054$228,308$29,202$472,544
6$759,256$239,113$30,370$489,774
7$789,627$250,350$31,585$507,692
8$821,212$262,036$32,848$526,327
9$854,060$274,190$34,162$545,708
10$888,223$286,830$35,529$565,864
11$923,752$299,976$36,950$586,826
12$960,702$313,647$38,428$608,626
13$999,130$327,866$39,965$631,299
14$1,039,095$342,653$41,564$654,878
15$1,080,659$358,031$43,226$679,401
16$1,123,885$374,025$44,955$704,904
17$1,168,840$390,659$46,754$731,428
18$1,215,594$407,958$48,624$759,013
19$1,264,218$425,948$50,569$787,701
20$1,314,787$444,659$52,591$817,536
21$1,367,378$464,118$54,695$848,565
22$1,422,073$484,355$56,883$880,835
23$1,478,956$505,401$59,158$914,396
24$1,538,114$527,290$61,525$949,300
25$1,599,639$550,054$63,986$985,599
26$1,663,624$573,729$66,545$1,023,351
27$1,730,169$598,350$69,207$1,062,612
28$1,799,376$623,957$71,975$1,103,444
29$1,871,351$650,588$74,854$1,145,909
30$1,946,205$678,284$77,848$1,190,073
Total$35,000,000$11,695,635$1,399,999$21,904,366

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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.