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Massachusetts Powerball Jackpot Annuity Payout Schedule for Sep 24, 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 $274,800,000 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:Sat, Sep 24, 2022
Jackpot:$274,800,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,136,134$1,488,557$372,252$2,275,325
2$4,342,941$1,565,076$390,865$2,387,000
3$4,560,088$1,645,420$410,408$2,504,260
4$4,788,093$1,729,782$430,928$2,627,382
5$5,027,497$1,818,362$452,475$2,756,661
6$5,278,872$1,911,370$475,098$2,892,403
7$5,542,816$2,009,030$498,853$3,034,933
8$5,819,956$2,111,572$523,796$3,184,589
9$6,110,954$2,219,241$549,986$3,341,728
10$6,416,502$2,332,293$577,485$3,506,723
11$6,737,327$2,450,999$606,359$3,679,969
12$7,074,193$2,575,639$636,677$3,861,877
13$7,427,903$2,706,512$668,511$4,052,880
14$7,799,298$2,843,928$701,937$4,253,433
15$8,189,263$2,988,215$737,034$4,464,014
16$8,598,726$3,139,717$773,885$4,685,125
17$9,028,663$3,298,793$812,580$4,917,290
18$9,480,096$3,465,823$853,209$5,161,064
19$9,954,100$3,641,205$895,869$5,417,026
20$10,451,806$3,825,356$940,663$5,685,787
21$10,974,396$4,018,714$987,696$5,967,986
22$11,523,116$4,221,741$1,037,080$6,264,295
23$12,099,271$4,434,918$1,088,934$6,575,419
24$12,704,235$4,658,755$1,143,381$6,902,099
25$13,339,447$4,893,783$1,200,550$7,245,113
26$14,006,419$5,140,563$1,260,578$7,605,279
27$14,706,740$5,399,682$1,323,607$7,983,452
28$15,442,077$5,671,756$1,389,787$8,380,534
29$16,214,181$5,957,435$1,459,276$8,797,470
30$17,024,890$6,257,397$1,532,240$9,235,253
Total$274,800,001$100,421,634$24,731,999$149,646,369

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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.