USA Mega

Massachusetts 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 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, Aug 7, 2002
Jackpot:$22,100,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$394,045$108,291$35,464$250,291
2$409,807$113,807$36,883$259,117
3$426,199$119,544$38,358$268,297
4$443,247$125,511$39,892$277,844
5$460,977$131,717$41,488$287,772
6$479,416$138,170$43,147$298,098
7$498,593$144,882$44,873$308,837
8$518,537$151,863$46,668$320,006
9$539,278$159,122$48,535$331,621
10$560,849$166,672$50,476$343,701
11$583,283$174,524$52,495$356,264
12$606,614$182,690$54,595$369,329
13$630,879$191,613$56,779$382,487
14$656,114$200,950$59,050$396,114
15$682,359$210,660$61,412$410,286
16$709,653$220,759$63,869$425,025
17$738,039$231,262$66,424$440,353
18$767,561$242,185$69,080$456,295
19$798,263$253,545$71,844$472,874
20$830,194$265,359$74,717$490,117
21$863,402$277,646$77,706$508,049
22$897,938$290,425$80,814$526,699
23$933,855$303,714$84,047$546,094
24$971,209$317,535$87,409$566,265
25$1,010,058$331,909$90,905$587,243
26$1,050,460$346,858$94,541$609,061
27$1,092,478$362,405$98,323$631,751
28$1,136,178$378,573$102,256$655,348
29$1,181,625$395,389$106,346$679,890
30$1,228,890$412,877$110,600$705,413
Total$22,100,000$6,950,457$1,988,996$13,160,541

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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.