USA Mega

Kentucky Powerball Jackpot Annuity Payout Schedule for Aug 7, 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 $22,100,000 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, Aug 7, 2002
Jackpot:$22,100,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$394,045$108,291$15,762$269,993
2$409,807$113,807$16,392$279,608
3$426,199$119,544$17,048$289,607
4$443,247$125,511$17,730$300,006
5$460,977$131,717$18,439$310,821
6$479,416$138,170$19,177$322,069
7$498,593$144,882$19,944$333,767
8$518,537$151,863$20,741$345,933
9$539,278$159,122$21,571$358,585
10$560,849$166,672$22,434$371,743
11$583,283$174,524$23,331$385,428
12$606,614$182,690$24,265$399,660
13$630,879$191,613$25,235$414,031
14$656,114$200,950$26,245$428,920
15$682,359$210,660$27,294$444,404
16$709,653$220,759$28,386$460,508
17$738,039$231,262$29,522$477,255
18$767,561$242,185$30,702$494,673
19$798,263$253,545$31,931$512,788
20$830,194$265,359$33,208$531,627
21$863,402$277,646$34,536$551,219
22$897,938$290,425$35,918$571,595
23$933,855$303,714$37,354$592,787
24$971,209$317,535$38,848$614,826
25$1,010,058$331,909$40,402$637,746
26$1,050,460$346,858$42,018$661,584
27$1,092,478$362,405$43,699$686,374
28$1,136,178$378,573$45,447$712,157
29$1,181,625$395,389$47,265$738,971
30$1,228,890$412,877$49,156$766,857
Total$22,100,000$6,950,457$884,000$14,265,542

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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.