USA Mega

Massachusetts Powerball Jackpot Annuity Payout Schedule for Jun 8, 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 $30,600,000 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, Jun 8, 2002
Jackpot:$30,600,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$545,601$161,335$49,104$335,162
2$567,425$168,974$51,068$347,383
3$590,122$176,917$53,111$360,094
4$613,727$185,267$55,235$373,225
5$638,276$194,350$57,445$386,481
6$663,807$203,796$59,743$400,268
7$690,359$213,621$62,132$414,606
8$717,974$223,838$64,618$429,518
9$746,693$234,464$67,202$445,026
10$776,560$245,515$69,890$461,155
11$807,623$257,008$72,686$477,929
12$839,928$268,961$75,593$495,373
13$873,525$281,392$78,617$513,516
14$908,466$294,320$81,762$532,384
15$944,804$307,765$85,032$552,007
16$982,597$321,749$88,434$572,414
17$1,021,901$336,291$91,971$593,639
18$1,062,777$351,415$95,650$615,712
19$1,105,288$367,144$99,476$638,668
20$1,149,499$383,502$103,455$662,542
21$1,195,479$400,515$107,593$687,371
22$1,243,298$418,208$111,897$713,193
23$1,293,030$436,609$116,373$740,049
24$1,344,751$455,746$121,028$767,978
25$1,398,541$475,648$125,869$797,025
26$1,454,483$496,346$130,903$827,233
27$1,512,662$517,873$136,140$858,650
28$1,573,169$540,260$141,585$891,323
29$1,636,096$563,543$147,249$925,304
30$1,701,539$587,757$153,139$960,644
Total$30,600,000$10,070,129$2,754,000$17,775,872

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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.