USA Mega

Massachusetts Powerball Jackpot Annuity Payout Schedule for Dec 21, 1996

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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 $41,600,000 for a ticket purchased in Massachusetts, 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:

Massachusetts

Drawing Date:Sat, Dec 21, 1996
Jackpot:$41,600,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$741,732$232,629$66,756$442,348
2$771,401$243,606$69,426$458,369
3$802,257$255,023$72,203$475,031
4$834,348$266,896$75,091$492,360
5$867,722$279,245$78,095$510,382
6$902,431$292,087$81,219$529,125
7$938,528$305,443$84,467$548,617
8$976,069$319,333$87,846$568,889
9$1,015,112$333,779$91,360$589,973
10$1,055,716$348,803$95,014$611,899
11$1,097,945$364,427$98,815$634,702
12$1,141,863$380,677$102,768$658,418
13$1,187,537$397,576$106,878$683,082
14$1,235,039$415,152$111,153$708,733
15$1,284,440$433,431$115,600$735,410
16$1,335,818$452,440$120,224$763,154
17$1,389,250$472,210$125,033$792,007
18$1,444,820$492,771$130,034$822,015
19$1,502,613$514,155$135,235$853,223
20$1,562,718$536,393$140,645$885,680
21$1,625,226$559,522$146,270$919,435
22$1,690,235$583,575$152,121$954,539
23$1,757,845$608,590$158,206$991,048
24$1,828,159$634,606$164,534$1,029,018
25$1,901,285$661,663$171,116$1,068,506
26$1,977,336$689,802$177,960$1,109,574
27$2,056,430$719,067$185,079$1,152,284
28$2,138,687$749,502$192,482$1,196,703
29$2,224,235$781,155$200,181$1,242,899
30$2,313,204$814,073$208,188$1,290,942
Total$41,600,000$14,137,631$3,743,999$23,718,365

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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.