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Massachusetts Powerball Jackpot Annuity Payout Schedule for Oct 24, 2020

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The tax information provided here is based on 2021 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 $105,700,000 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 prize money, as well as deductions claimed.

State:

Massachusetts

Drawing Date:Sat, Oct 24, 2020
Jackpot:$105,700,000
Federal Tax:37% marginal rate
State Tax: 5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,590,937$552,719$79,547$958,671
2$1,670,484$582,151$83,524$1,004,808
3$1,754,008$613,055$87,700$1,053,252
4$1,841,708$645,504$92,085$1,104,118
5$1,933,793$679,576$96,690$1,157,528
6$2,030,483$715,351$101,524$1,213,608
7$2,132,007$752,915$106,600$1,272,492
8$2,238,608$792,357$111,930$1,334,320
9$2,350,538$833,771$117,527$1,399,240
10$2,468,065$877,256$123,403$1,467,405
11$2,591,468$922,916$129,573$1,538,979
12$2,721,042$970,858$136,052$1,614,132
13$2,857,094$1,021,197$142,855$1,693,042
14$2,999,948$1,074,053$149,997$1,775,898
15$3,149,946$1,129,552$157,497$1,862,896
16$3,307,443$1,187,826$165,372$1,954,245
17$3,472,815$1,249,014$173,641$2,050,161
18$3,646,456$1,313,261$182,323$2,150,872
19$3,828,779$1,380,720$191,439$2,256,619
20$4,020,218$1,451,553$201,011$2,367,654
21$4,221,229$1,525,927$211,061$2,484,240
22$4,432,290$1,604,020$221,615$2,606,656
23$4,653,905$1,686,017$232,695$2,735,192
24$4,886,600$1,772,114$244,330$2,870,156
25$5,130,930$1,862,516$256,546$3,011,867
26$5,387,476$1,957,439$269,374$3,160,664
27$5,656,850$2,057,107$282,843$3,316,901
28$5,939,693$2,161,759$296,985$3,480,949
29$6,236,677$2,271,643$311,834$3,653,201
30$6,548,511$2,387,021$327,426$3,834,064
Total$105,700,000$38,031,168$5,284,999$62,383,830

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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.