USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Sep 11, 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 $87,000,000 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, Sep 11, 2002
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,551,219$532,139$110,912$908,168
2$1,613,267$555,097$115,349$942,822
3$1,677,798$578,973$119,963$978,862
4$1,744,910$603,804$124,761$1,016,344
5$1,814,706$629,629$129,752$1,055,326
6$1,887,295$656,487$134,942$1,095,866
7$1,962,786$684,419$140,339$1,138,028
8$2,041,298$713,468$145,953$1,181,877
9$2,122,950$743,679$151,791$1,227,480
10$2,207,868$775,099$157,863$1,274,906
11$2,296,183$807,775$164,177$1,324,230
12$2,388,030$841,759$170,744$1,375,527
13$2,483,551$877,102$177,574$1,428,875
14$2,582,893$913,858$184,677$1,484,358
15$2,686,209$952,085$192,064$1,542,060
16$2,793,657$991,841$199,746$1,602,070
17$2,905,403$1,033,187$207,736$1,664,480
18$3,021,620$1,076,187$216,046$1,729,387
19$3,142,484$1,120,907$224,688$1,796,890
20$3,268,184$1,167,416$233,675$1,867,093
21$3,398,911$1,215,785$243,022$1,940,104
22$3,534,867$1,266,089$252,743$2,016,036
23$3,676,262$1,318,405$262,853$2,095,005
24$3,823,313$1,372,813$273,367$2,177,132
25$3,976,245$1,429,398$284,302$2,262,545
26$4,135,295$1,488,247$295,674$2,351,374
27$4,300,707$1,549,449$307,501$2,443,757
28$4,472,735$1,613,100$319,801$2,539,835
29$4,651,644$1,679,296$332,593$2,639,756
30$4,837,710$1,748,141$345,896$2,743,673
Total$87,000,000$30,935,634$6,220,504$49,843,866

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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.