USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Aug 31, 2002

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $62,400,000 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, Aug 31, 2002
Jackpot:$62,400,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,112,598$369,849$79,551$663,198
2$1,157,102$386,316$82,733$688,054
3$1,203,386$403,441$86,042$713,903
4$1,251,522$421,251$89,484$740,787
5$1,301,583$439,773$93,063$768,746
6$1,353,646$459,037$96,786$797,823
7$1,407,792$479,071$100,657$828,064
8$1,464,103$499,906$104,683$859,514
9$1,522,667$521,575$108,871$892,222
10$1,583,574$544,110$113,226$926,238
11$1,646,917$567,547$117,755$961,615
12$1,712,794$591,921$122,465$998,408
13$1,781,306$617,271$127,363$1,036,671
14$1,852,558$643,634$132,458$1,076,466
15$1,926,660$671,052$137,756$1,117,852
16$2,003,726$699,567$143,266$1,160,893
17$2,083,876$729,222$148,997$1,205,657
18$2,167,231$760,063$154,957$1,252,211
19$2,253,920$792,138$161,155$1,300,626
20$2,344,077$825,496$167,601$1,350,979
21$2,437,840$860,188$174,306$1,403,346
22$2,535,353$896,268$181,278$1,457,807
23$2,636,767$933,792$188,529$1,514,447
24$2,742,238$972,816$196,070$1,573,352
25$2,851,928$1,013,401$203,913$1,634,614
26$2,966,005$1,055,609$212,069$1,698,326
27$3,084,645$1,099,506$220,552$1,764,586
28$3,208,031$1,145,159$229,374$1,833,497
29$3,336,352$1,192,638$238,549$1,905,165
30$3,469,806$1,242,016$248,091$1,979,699
Total$62,400,000$21,833,633$4,461,600$36,104,766

◄ Back to Jackpot Analysis

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.