USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Dec 21, 1996

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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 $41,600,000 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 money, as well as deductions claimed.

State:

Maine

Drawing Date:Sat, Dec 21, 1996
Jackpot:$41,600,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$741,732$232,629$53,034$456,070
2$771,401$243,606$55,155$472,640
3$802,257$255,023$57,361$489,873
4$834,348$266,896$59,656$507,795
5$867,722$279,245$62,042$526,435
6$902,431$292,087$64,524$545,820
7$938,528$305,443$67,105$565,980
8$976,069$319,333$69,789$586,947
9$1,015,112$333,779$72,580$608,752
10$1,055,716$348,803$75,484$631,430
11$1,097,945$364,427$78,503$655,014
12$1,141,863$380,677$81,643$679,542
13$1,187,537$397,576$84,909$705,052
14$1,235,039$415,152$88,305$731,581
15$1,284,440$433,431$91,837$759,172
16$1,335,818$452,440$95,511$787,866
17$1,389,250$472,210$99,331$817,709
18$1,444,820$492,771$103,305$848,744
19$1,502,613$514,155$107,437$881,022
20$1,562,718$536,393$111,734$914,590
21$1,625,226$559,522$116,204$949,501
22$1,690,235$583,575$120,852$985,809
23$1,757,845$608,590$125,686$1,023,569
24$1,828,159$634,606$130,713$1,062,839
25$1,901,285$661,663$135,942$1,103,680
26$1,977,336$689,802$141,380$1,146,155
27$2,056,430$719,067$147,035$1,190,328
28$2,138,687$749,502$152,916$1,236,269
29$2,224,235$781,155$159,033$1,284,047
30$2,313,204$814,073$165,394$1,333,737
Total$41,600,000$14,137,631$2,974,400$24,487,968

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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.