USA Mega

Massachusetts Powerball Jackpot Annuity Payout Schedule for Oct 2, 2023

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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 $1,066,200,000 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:Mon, Oct 2, 2023
Jackpot:$1,066,200,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,047,840$5,895,889$1,444,306$8,707,646
2$16,850,232$6,192,774$1,516,521$9,140,938
3$17,692,744$6,504,503$1,592,347$9,595,894
4$18,577,381$6,831,819$1,671,964$10,073,598
5$19,506,249$7,175,500$1,755,562$10,575,187
6$20,481,562$7,536,366$1,843,341$11,101,856
7$21,505,641$7,915,275$1,935,508$11,654,858
8$22,580,923$8,313,129$2,032,283$12,235,511
9$23,709,969$8,730,876$2,133,897$12,845,196
10$24,895,467$9,169,511$2,240,592$13,485,365
11$26,140,241$9,630,077$2,352,622$14,157,542
12$27,447,253$10,113,671$2,470,253$14,863,329
13$28,819,615$10,621,445$2,593,765$15,604,404
14$30,260,596$11,154,608$2,723,454$16,382,534
15$31,773,626$11,714,429$2,859,626$17,199,570
16$33,362,307$12,302,242$3,002,608$18,057,458
17$35,030,422$12,919,444$3,152,738$18,958,240
18$36,781,944$13,567,507$3,310,375$19,904,062
19$38,621,040$14,247,973$3,475,894$20,897,174
20$40,552,093$14,962,462$3,649,688$21,939,942
21$42,579,697$15,712,676$3,832,173$23,034,849
22$44,708,682$16,500,400$4,023,781$24,184,501
23$46,944,116$17,327,511$4,224,970$25,391,635
24$49,291,322$18,195,977$4,436,219$26,659,126
25$51,755,888$19,107,866$4,658,030$27,989,992
26$54,343,683$20,065,350$4,890,931$29,387,401
27$57,060,867$21,070,709$5,135,478$30,854,680
28$59,913,910$22,126,334$5,392,252$32,395,323
29$62,909,605$23,234,742$5,661,864$34,012,999
30$66,055,086$24,398,570$5,944,958$35,711,559
Total$1,066,200,002$393,239,635$95,958,000$577,002,369

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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.