USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for May 24, 1997

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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 $17,000,000 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 money, as well as deductions claimed.

State:

Maine

Drawing Date:Sat, May 24, 1997
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$303,112$76,464$21,672$204,975
2$315,236$80,707$22,539$211,989
3$327,846$85,121$23,441$219,284
4$340,959$89,711$24,379$226,870
5$354,598$94,484$25,354$234,760
6$368,782$99,448$26,368$242,965
7$383,533$104,611$27,423$251,499
8$398,874$109,981$28,520$260,374
9$414,829$115,565$29,660$269,604
10$431,422$121,373$30,847$279,203
11$448,679$127,413$32,081$289,186
12$466,627$133,694$33,364$299,569
13$485,292$140,227$34,698$310,366
14$504,703$147,021$36,086$321,596
15$524,891$154,087$37,530$333,275
16$545,887$161,435$39,031$345,421
17$567,723$169,078$40,592$358,053
18$590,431$177,026$42,216$371,190
19$614,049$185,386$43,904$384,758
20$638,611$194,474$45,661$398,476
21$664,155$203,925$47,487$412,743
22$690,721$213,755$49,387$427,580
23$718,350$223,977$51,362$443,011
24$747,084$234,609$53,417$459,059
25$776,967$245,666$55,553$475,749
26$808,046$257,165$57,775$493,106
27$840,368$269,124$60,086$511,158
28$873,983$281,561$62,490$529,932
29$908,942$294,496$64,989$549,456
30$945,300$307,949$67,589$569,762
Total$17,000,000$5,099,533$1,215,501$10,684,969

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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.