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Massachusetts Powerball Jackpot Annuity Payout Schedule for Feb 5, 2024

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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 $214,800,000 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:Mon, Feb 5, 2024
Jackpot:$214,800,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,233,048$1,154,416$290,974$1,787,658
2$3,394,701$1,214,227$305,523$1,874,951
3$3,564,436$1,277,029$320,799$1,966,608
4$3,742,658$1,342,971$336,839$2,062,847
5$3,929,790$1,412,210$353,681$2,163,899
6$4,126,280$1,484,911$371,365$2,270,003
7$4,332,594$1,561,248$389,933$2,381,413
8$4,549,224$1,641,400$409,430$2,498,393
9$4,776,685$1,725,561$429,902$2,621,222
10$5,015,519$1,813,930$451,397$2,750,193
11$5,266,295$1,906,717$473,967$2,885,612
12$5,529,610$2,004,143$497,665$3,027,801
13$5,806,090$2,106,441$522,548$3,177,101
14$6,096,395$2,213,854$548,676$3,333,865
15$6,401,214$2,326,637$576,109$3,498,468
16$6,721,275$2,445,060$604,915$3,671,301
17$7,057,339$2,569,403$635,160$3,852,775
18$7,410,206$2,699,964$666,919$4,043,323
19$7,780,716$2,837,053$700,264$4,243,399
20$8,169,752$2,980,996$735,278$4,453,478
21$8,578,239$3,132,136$772,042$4,674,062
22$9,007,151$3,290,834$810,644$4,905,674
23$9,457,509$3,457,466$851,176$5,148,867
24$9,930,384$3,632,430$893,735$5,404,220
25$10,426,904$3,816,142$938,421$5,672,340
26$10,948,249$4,009,040$985,342$5,953,867
27$11,495,661$4,211,582$1,034,610$6,249,469
28$12,070,444$4,424,252$1,086,340$6,559,852
29$12,673,967$4,647,555$1,140,657$6,885,754
30$13,307,665$4,882,024$1,197,690$7,227,951
Total$214,800,000$78,221,632$19,332,001$117,246,366

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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.