USA Mega

Kentucky Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $62,400,000 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, Aug 31, 2002
Jackpot:$62,400,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,112,598$369,849$44,504$698,245
2$1,157,102$386,316$46,284$724,502
3$1,203,386$403,441$48,135$751,810
4$1,251,522$421,251$50,061$780,210
5$1,301,583$439,773$52,063$809,746
6$1,353,646$459,037$54,146$840,463
7$1,407,792$479,071$56,312$872,409
8$1,464,103$499,906$58,564$905,633
9$1,522,667$521,575$60,907$940,186
10$1,583,574$544,110$63,343$976,121
11$1,646,917$567,547$65,877$1,013,493
12$1,712,794$591,921$68,512$1,052,361
13$1,781,306$617,271$71,252$1,092,783
14$1,852,558$643,634$74,102$1,134,821
15$1,926,660$671,052$77,066$1,178,542
16$2,003,726$699,567$80,149$1,224,011
17$2,083,876$729,222$83,355$1,271,299
18$2,167,231$760,063$86,689$1,320,478
19$2,253,920$792,138$90,157$1,371,625
20$2,344,077$825,496$93,763$1,424,817
21$2,437,840$860,188$97,514$1,480,138
22$2,535,353$896,268$101,414$1,537,671
23$2,636,767$933,792$105,471$1,597,505
24$2,742,238$972,816$109,690$1,659,733
25$2,851,928$1,013,401$114,077$1,724,450
26$2,966,005$1,055,609$118,640$1,791,755
27$3,084,645$1,099,506$123,386$1,861,753
28$3,208,031$1,145,159$128,321$1,934,550
29$3,336,352$1,192,638$133,454$2,010,260
30$3,469,806$1,242,016$138,792$2,088,998
Total$62,400,000$21,833,633$2,496,000$38,070,368

◄ 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.