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Massachusetts Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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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 $632,600,000 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, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,481,157$856,938$5,183,443
2$9,997,615$3,657,305$899,785$5,440,524
3$10,497,495$3,842,261$944,775$5,710,460
4$11,022,371$4,036,465$992,013$5,993,892
5$11,573,488$4,240,378$1,041,614$6,291,496
6$12,152,163$4,454,488$1,093,695$6,603,980
7$12,759,772$4,679,303$1,148,379$6,932,089
8$13,397,760$4,915,359$1,205,798$7,276,603
9$14,067,648$5,163,218$1,266,088$7,638,342
10$14,771,030$5,423,469$1,329,393$8,018,169
11$15,509,582$5,696,733$1,395,862$8,416,987
12$16,285,061$5,983,660$1,465,655$8,835,745
13$17,099,314$6,284,934$1,538,938$9,275,442
14$17,954,280$6,601,271$1,615,885$9,737,123
15$18,851,994$6,933,425$1,696,679$10,221,889
16$19,794,594$7,282,187$1,781,513$10,730,893
17$20,784,323$7,648,387$1,870,589$11,265,347
18$21,823,539$8,032,897$1,964,119$11,826,523
19$22,914,716$8,436,633$2,062,324$12,415,759
20$24,060,452$8,860,555$2,165,441$13,034,456
21$25,263,474$9,305,673$2,273,713$13,684,088
22$26,526,648$9,773,048$2,387,398$14,366,202
23$27,852,981$10,263,791$2,506,768$15,082,422
24$29,245,629$10,779,071$2,632,107$15,834,452
25$30,707,911$11,320,115$2,763,712$16,624,084
26$32,243,307$11,888,211$2,901,898$17,453,198
27$33,855,472$12,484,712$3,046,993$18,323,767
28$35,548,245$13,111,039$3,199,342$19,237,865
29$37,325,658$13,768,681$3,359,309$20,197,667
30$39,191,941$14,459,206$3,527,275$21,205,460
Total$632,600,001$232,807,632$56,933,998$342,858,367

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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.