USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Aug 28, 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 $55,300,000 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, Aug 28, 2002
Jackpot:$55,300,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$986,004$323,009$70,499$592,496
2$1,025,445$337,602$73,319$614,523
3$1,066,462$352,779$76,252$637,432
4$1,109,121$368,562$79,302$661,256
5$1,153,486$384,977$82,474$686,034
6$1,199,625$402,049$85,773$711,803
7$1,247,610$419,804$89,204$738,603
8$1,297,515$438,268$92,772$766,474
9$1,349,415$457,471$96,483$795,461
10$1,403,392$477,443$100,343$825,607
11$1,459,527$498,213$104,356$856,958
12$1,517,909$519,814$108,530$889,564
13$1,578,625$542,279$112,872$923,474
14$1,641,770$565,643$117,387$958,741
15$1,707,441$589,941$122,082$995,418
16$1,775,738$615,211$126,965$1,033,562
17$1,846,768$641,492$132,044$1,073,232
18$1,920,639$668,824$137,326$1,114,489
19$1,997,464$697,249$142,819$1,157,396
20$2,077,363$726,812$148,531$1,202,019
21$2,160,457$757,557$154,473$1,248,428
22$2,246,876$789,532$160,652$1,296,692
23$2,336,751$822,785$167,078$1,346,887
24$2,430,221$857,369$173,761$1,399,090
25$2,527,429$893,337$180,711$1,453,382
26$2,628,527$930,743$187,940$1,509,844
27$2,733,668$969,645$195,457$1,568,566
28$2,843,014$1,010,103$203,276$1,629,636
29$2,956,735$1,052,180$211,407$1,693,149
30$3,075,004$1,095,939$219,863$1,759,202
Total$55,300,000$19,206,632$3,953,951$32,139,418

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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.