USA Mega

Louisiana Powerball Jackpot Annuity Payout Schedule for May 18, 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 $10,000,000 for a ticket purchased in Louisiana, 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:

Louisiana

Drawing Date:Sat, May 18, 2002
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$178,301$35,835$8,469$133,997
2$185,433$37,546$8,808$139,079
3$192,850$39,399$9,160$144,291
4$200,564$41,867$9,527$149,170
5$208,587$44,434$9,908$154,245
6$216,930$47,104$10,304$159,522
7$225,608$49,881$10,716$165,010
8$234,632$52,769$11,145$170,718
9$244,017$55,781$11,591$176,646
10$253,778$59,197$12,054$182,526
11$263,929$62,750$12,537$188,642
12$274,486$66,445$13,038$195,003
13$285,466$70,288$13,560$201,618
14$296,884$74,284$14,102$208,498
15$308,760$78,441$14,666$215,653
16$321,110$82,763$15,253$223,094
17$333,954$87,259$15,863$230,833
18$347,313$91,934$16,497$238,881
19$361,205$96,797$17,157$247,251
20$375,653$101,853$17,844$255,956
21$390,679$107,113$18,557$265,010
22$406,307$112,582$19,300$274,425
23$422,559$118,270$20,072$284,217
24$439,461$124,186$20,874$294,401
25$457,040$130,339$21,709$304,992
26$475,321$136,737$22,578$316,006
27$494,334$143,392$23,481$327,462
28$514,107$150,312$24,420$339,375
29$534,672$157,510$25,397$351,765
30$556,059$164,995$26,413$364,651
Total$10,000,000$2,622,063$475,000$6,902,937

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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.