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Maine Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 $60,000,000 for a ticket purchased in Maine, 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 prize money, as well as deductions claimed.

State:

Maine

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$64,571$540,301
2$948,240$314,921$67,799$565,520
3$995,652$332,464$71,189$592,000
4$1,045,435$350,883$74,749$619,803
5$1,097,707$370,224$78,486$648,997
6$1,152,592$390,531$82,410$679,650
7$1,210,222$411,854$86,531$711,837
8$1,270,733$434,243$90,857$745,632
9$1,334,270$457,752$95,400$781,117
10$1,400,983$482,436$100,170$818,377
11$1,471,032$508,354$105,179$857,499
12$1,544,584$535,568$110,438$898,578
13$1,621,813$564,143$115,960$941,710
14$1,702,904$594,147$121,758$986,999
15$1,788,049$625,650$127,845$1,034,553
16$1,877,451$658,729$134,238$1,084,484
17$1,971,324$693,462$140,950$1,136,912
18$2,069,890$729,932$147,997$1,191,961
19$2,173,384$768,224$155,397$1,249,763
20$2,282,054$808,432$163,167$1,310,455
21$2,396,156$850,650$171,325$1,374,181
22$2,515,964$894,979$179,891$1,441,094
23$2,641,762$941,524$188,886$1,511,352
24$2,773,850$990,397$198,330$1,585,123
25$2,912,543$1,041,713$208,247$1,662,583
26$3,058,170$1,095,595$218,659$1,743,916
27$3,211,079$1,152,171$229,592$1,829,315
28$3,371,633$1,211,576$241,072$1,918,985
29$3,540,214$1,273,951$253,125$2,013,137
30$3,717,225$1,339,445$265,782$2,111,998
Total$60,000,000$21,122,164$4,290,000$34,587,832

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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.