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Massachusetts Powerball Jackpot Annuity Payout Schedule for Sep 20, 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 $677,100,000 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, Sep 20, 2023
Jackpot:$677,100,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,191,327$3,728,979$917,219$5,545,129
2$10,700,893$3,917,518$963,080$5,820,295
3$11,235,938$4,115,485$1,011,234$6,109,219
4$11,797,735$4,323,350$1,061,796$6,412,589
5$12,387,621$4,541,608$1,114,886$6,731,128
6$13,007,002$4,770,779$1,170,630$7,065,593
7$13,657,353$5,011,408$1,229,162$7,416,783
8$14,340,220$5,264,069$1,290,620$7,785,531
9$15,057,231$5,529,363$1,355,151$8,172,717
10$15,810,093$5,807,922$1,422,908$8,579,262
11$16,600,597$6,100,409$1,494,054$9,006,135
12$17,430,627$6,407,520$1,568,756$9,454,351
13$18,302,159$6,729,986$1,647,194$9,924,978
14$19,217,267$7,068,576$1,729,554$10,419,136
15$20,178,130$7,424,096$1,816,032$10,938,002
16$21,187,037$7,797,391$1,906,833$11,482,812
17$22,246,388$8,189,351$2,002,175$12,054,862
18$23,358,708$8,600,910$2,102,284$12,655,514
19$24,526,643$9,033,046$2,207,398$13,286,199
20$25,752,975$9,486,789$2,317,768$13,948,419
21$27,040,624$9,963,218$2,433,656$14,643,749
22$28,392,655$10,463,470$2,555,339$15,373,846
23$29,812,288$10,988,734$2,683,106$16,140,448
24$31,302,902$11,540,261$2,817,261$16,945,379
25$32,868,047$12,119,365$2,958,124$17,790,558
26$34,511,450$12,727,424$3,106,030$18,677,995
27$36,237,022$13,365,886$3,261,332$19,609,804
28$38,048,873$14,036,271$3,424,399$20,588,204
29$39,951,317$14,740,175$3,595,618$21,615,523
30$41,948,883$15,479,274$3,775,399$22,694,209
Total$677,100,001$249,272,633$60,938,998$366,888,369

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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.