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Massachusetts Powerball Jackpot Annuity Payout Schedule for Sep 4, 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 $70,100,000 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, Sep 4, 2002
Jackpot:$70,100,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,249,890$420,647$112,490$716,753
2$1,299,886$439,145$116,990$743,750
3$1,351,881$458,384$121,669$771,828
4$1,405,956$478,392$126,536$801,029
5$1,462,194$499,200$131,598$831,397
6$1,520,682$520,840$136,861$862,981
7$1,581,510$543,346$142,336$895,827
8$1,644,770$566,753$148,029$929,988
9$1,710,561$591,095$153,950$965,515
10$1,778,983$616,412$160,108$1,002,463
11$1,850,142$642,740$166,513$1,040,889
12$1,924,148$670,123$173,173$1,080,852
13$2,001,114$698,600$180,100$1,122,414
14$2,081,159$728,216$187,304$1,165,638
15$2,164,405$759,018$194,796$1,210,591
16$2,250,981$791,051$202,588$1,257,342
17$2,341,020$824,365$210,692$1,305,963
18$2,434,661$859,012$219,120$1,356,529
19$2,532,048$895,045$227,884$1,409,118
20$2,633,330$932,520$237,000$1,463,810
21$2,738,663$971,493$246,480$1,520,690
22$2,848,209$1,012,025$256,339$1,579,845
23$2,962,138$1,054,179$266,592$1,641,367
24$3,080,623$1,098,018$277,256$1,705,349
25$3,203,848$1,143,612$288,346$1,771,890
26$3,332,002$1,191,029$299,880$1,841,093
27$3,465,282$1,240,342$311,875$1,913,065
28$3,603,893$1,291,628$324,350$1,987,915
29$3,748,049$1,344,966$337,324$2,065,759
30$3,897,971$1,400,437$350,817$2,146,717
Total$70,100,000$24,682,633$6,308,996$39,108,367

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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.