USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Dec 15, 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 $16,000,000 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, Dec 15, 2001
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,282$70,223$20,398$194,661
2$296,693$74,217$21,214$201,262
3$308,561$78,371$22,062$208,128
4$320,903$82,691$22,945$215,268
5$333,739$87,183$23,862$222,693
6$347,089$91,856$24,817$230,416
7$360,972$96,715$25,810$238,448
8$375,411$101,769$26,842$246,801
9$390,428$107,024$27,916$255,488
10$406,045$112,490$29,032$264,522
11$422,286$118,175$30,193$273,918
12$439,178$124,087$31,401$283,690
13$456,745$130,236$32,657$293,852
14$475,015$136,630$33,964$304,421
15$494,015$143,280$35,322$315,413
16$513,776$150,196$36,735$326,845
17$534,327$157,389$38,204$338,733
18$555,700$164,870$39,733$351,098
19$577,928$172,650$41,322$363,957
20$601,045$180,741$42,975$377,330
21$625,087$189,470$44,694$390,923
22$650,091$198,721$46,481$404,888
23$676,094$208,343$48,341$419,411
24$703,138$218,349$50,274$434,515
25$731,263$228,755$52,285$450,223
26$760,514$239,578$54,377$466,559
27$790,935$250,834$56,552$483,549
28$822,572$262,539$58,814$501,219
29$855,475$274,713$61,166$519,595
30$889,694$287,374$63,613$538,706
Total$16,000,000$4,739,469$1,144,001$10,116,532

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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.