USA Mega

Massachusetts Powerball Jackpot Annuity Payout Schedule for Feb 20, 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 $32,000,000 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:Wed, Feb 20, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$51,351$349,141
2$593,386$178,060$53,405$361,921
3$617,121$186,523$55,541$375,058
4$641,806$195,656$57,763$388,387
5$667,478$205,155$60,073$402,250
6$694,177$215,033$62,476$416,668
7$721,944$225,307$64,975$431,662
8$750,822$235,992$67,574$447,256
9$780,855$247,104$70,277$463,474
10$812,089$258,661$73,088$480,340
11$844,573$270,680$76,012$497,882
12$878,356$283,179$79,052$516,124
13$913,490$296,179$82,214$535,097
14$950,030$309,699$85,503$554,828
15$988,031$323,759$88,923$575,349
16$1,027,552$338,382$92,480$596,690
17$1,068,654$353,590$96,179$618,885
18$1,111,400$369,406$100,026$641,968
19$1,155,856$385,855$104,027$665,975
20$1,202,091$402,961$108,188$690,941
21$1,250,174$420,752$112,516$716,906
22$1,300,181$439,255$117,016$743,910
23$1,352,188$458,497$121,697$771,994
24$1,406,276$478,510$126,565$801,201
25$1,462,527$499,323$131,627$831,577
26$1,521,028$520,968$136,893$863,167
27$1,581,869$543,479$142,368$896,022
28$1,645,144$566,891$148,063$930,190
29$1,710,950$591,239$153,985$965,725
30$1,779,388$616,561$160,145$1,002,682
Total$32,000,000$10,586,728$2,880,002$18,533,270

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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.