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Massachusetts Powerball Jackpot Annuity Payout Schedule for Jan 13, 2021

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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 $556,700,000 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:Wed, Jan 13, 2021
Jackpot:$556,700,000
Federal Tax:37% marginal rate
State Tax: 5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,379,134$3,064,352$418,957$4,895,825
2$8,798,091$3,219,366$439,905$5,138,820
3$9,237,995$3,382,130$461,900$5,393,965
4$9,699,895$3,553,033$484,995$5,661,867
5$10,184,889$3,732,481$509,244$5,943,164
6$10,694,134$3,920,902$534,707$6,238,526
7$11,228,841$4,118,743$561,442$6,548,656
8$11,790,283$4,326,477$589,514$6,874,292
9$12,379,797$4,544,597$618,990$7,216,210
10$12,998,787$4,773,623$649,939$7,575,224
11$13,648,726$5,014,101$682,436$7,952,189
12$14,331,163$5,266,602$716,558$8,348,002
13$15,047,721$5,531,729$752,386$8,763,606
14$15,800,107$5,810,112$790,005$9,199,990
15$16,590,112$6,102,414$829,506$9,658,193
16$17,419,618$6,409,331$870,981$10,139,306
17$18,290,598$6,731,594$914,530$10,644,475
18$19,205,128$7,069,970$960,256$11,174,902
19$20,165,385$7,425,265$1,008,269$11,731,851
20$21,173,654$7,798,324$1,058,683$12,316,647
21$22,232,337$8,190,037$1,111,617$12,930,683
22$23,343,954$8,601,335$1,167,198$13,575,421
23$24,511,151$9,033,198$1,225,558$14,252,396
24$25,736,709$9,486,654$1,286,835$14,963,219
25$27,023,544$9,962,784$1,351,177$15,709,583
26$28,374,722$10,462,719$1,418,736$16,493,266
27$29,793,458$10,987,652$1,489,673$17,316,133
28$31,283,130$11,538,830$1,564,157$18,180,143
29$32,847,287$12,117,568$1,642,364$19,087,354
30$34,489,652$12,725,243$1,724,483$20,039,926
Total$556,700,001$204,901,166$27,835,001$323,963,834

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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.