USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Nov 28, 2001

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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 $24,500,000 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:Wed, Nov 28, 2001
Jackpot:$24,500,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$436,837$123,268$31,234$282,336
2$454,311$129,384$32,483$292,444
3$472,483$135,744$33,783$302,957
4$491,383$142,359$35,134$313,890
5$511,038$149,238$36,539$325,261
6$531,480$156,393$38,001$337,086
7$552,739$163,833$39,521$349,385
8$574,848$171,572$41,102$362,175
9$597,842$179,620$42,746$375,477
10$621,756$188,237$44,456$389,063
11$646,626$197,439$46,234$402,953
12$672,491$207,009$48,083$417,399
13$699,391$216,962$50,006$432,422
14$727,366$227,313$52,007$448,046
15$756,461$238,078$54,087$464,296
16$786,720$249,274$56,250$481,195
17$818,188$260,917$58,500$498,770
18$850,916$273,027$60,840$517,049
19$884,952$285,620$63,274$536,058
20$920,351$298,717$65,805$555,828
21$957,165$312,339$68,437$576,389
22$995,451$326,505$71,175$597,772
23$1,035,269$341,237$74,022$620,010
24$1,076,680$356,559$76,983$643,138
25$1,119,747$372,494$80,062$667,191
26$1,164,537$389,066$83,264$692,206
27$1,211,119$406,302$86,595$718,222
28$1,259,563$424,226$90,059$745,278
29$1,309,946$442,868$93,661$773,417
30$1,362,344$462,255$97,408$802,681
Total$24,500,000$7,827,855$1,751,751$14,920,394

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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.