USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Jun 26, 2002

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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 $12,000,000 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:Wed, Jun 26, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$15,298$152,509
2$222,520$48,893$15,910$157,717
3$231,420$51,741$16,547$163,133
4$240,677$54,703$17,208$168,766
5$250,304$57,981$17,897$174,426
6$260,317$61,486$18,613$180,218
7$270,729$65,130$19,357$186,242
8$281,558$68,920$20,131$192,507
9$292,821$72,862$20,937$199,022
10$304,533$76,961$21,774$205,798
11$316,715$81,225$22,645$212,845
12$329,383$85,659$23,551$220,174
13$342,559$90,270$24,493$227,795
14$356,261$95,066$25,473$235,722
15$370,512$100,054$26,492$243,966
16$385,332$105,241$27,551$252,540
17$400,745$110,636$28,653$261,456
18$416,775$116,246$29,799$270,730
19$433,446$122,081$30,991$280,374
20$450,784$128,149$32,231$290,404
21$468,815$134,460$33,520$300,835
22$487,568$141,024$34,861$311,683
23$507,071$147,849$36,256$322,966
24$527,353$154,948$37,706$334,699
25$548,448$162,331$39,214$346,902
26$570,386$170,010$40,783$359,593
27$593,201$177,995$42,414$372,792
28$616,929$186,451$44,110$386,367
29$641,606$195,582$45,875$400,149
30$667,270$205,078$47,710$414,483
Total$12,000,000$3,315,186$858,000$7,826,813

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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.