USA Mega

Kentucky Powerball Jackpot Annuity Payout Schedule for Jul 27, 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 $12,000,000 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:Sat, Jul 27, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$8,558$159,249
2$222,520$48,893$8,901$164,726
3$231,420$51,741$9,257$170,423
4$240,677$54,703$9,627$176,347
5$250,304$57,981$10,012$182,311
6$260,317$61,486$10,413$188,418
7$270,729$65,130$10,829$194,770
8$281,558$68,920$11,262$201,376
9$292,821$72,862$11,713$208,246
10$304,533$76,961$12,181$215,391
11$316,715$81,225$12,669$222,821
12$329,383$85,659$13,175$230,549
13$342,559$90,270$13,702$238,586
14$356,261$95,066$14,250$246,945
15$370,512$100,054$14,820$255,637
16$385,332$105,241$15,413$264,678
17$400,745$110,636$16,030$274,080
18$416,775$116,246$16,671$283,858
19$433,446$122,081$17,338$294,027
20$450,784$128,149$18,031$304,603
21$468,815$134,460$18,753$315,603
22$487,568$141,024$19,503$327,042
23$507,071$147,849$20,283$338,938
24$527,353$154,948$21,094$351,311
25$548,448$162,331$21,938$364,178
26$570,386$170,010$22,815$377,560
27$593,201$177,995$23,728$391,478
28$616,929$186,451$24,677$405,800
29$641,606$195,582$25,664$420,360
30$667,270$205,078$26,691$435,502
Total$12,000,000$3,315,186$479,998$8,204,813

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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.