USA Mega

Massachusetts Powerball Jackpot Annuity Payout Schedule for Dec 28, 2011

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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 $20,000,000 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, Dec 28, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$32,094$229,322
2$370,866$100,178$33,378$237,310
3$385,701$105,370$34,713$245,618
4$401,129$110,770$36,102$254,257
5$417,174$116,386$37,546$263,243
6$433,861$122,226$39,047$272,587
7$451,215$128,300$40,609$282,306
8$469,264$134,617$42,234$292,413
9$488,034$141,187$43,923$302,925
10$507,556$148,019$45,680$313,857
11$527,858$155,125$47,507$325,226
12$548,972$162,515$49,408$337,050
13$570,931$170,201$51,384$349,347
14$593,769$178,194$53,439$362,136
15$617,519$186,670$55,577$375,273
16$642,220$195,809$57,800$388,611
17$667,909$205,314$60,112$402,483
18$694,625$215,199$62,516$416,910
19$722,410$225,480$65,017$431,914
20$751,307$236,171$67,618$447,518
21$781,359$247,291$70,322$463,746
22$812,613$258,855$73,135$480,623
23$845,118$270,881$76,061$498,176
24$878,922$283,389$79,103$516,430
25$914,079$296,397$82,267$535,415
26$950,643$309,925$85,558$555,159
27$988,668$323,995$88,980$575,693
28$1,028,215$338,627$92,539$597,048
29$1,069,344$353,845$96,241$619,258
30$1,112,117$369,671$100,091$642,356
Total$20,000,000$6,185,792$1,800,001$12,014,210

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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.