USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$142,783$1,157,121
2$2,076,850$726,622$148,495$1,201,733
3$2,159,924$757,360$154,435$1,248,130
4$2,246,321$789,326$160,612$1,296,382
5$2,336,174$822,572$167,036$1,346,565
6$2,429,621$857,147$173,718$1,398,755
7$2,526,806$893,106$180,667$1,453,033
8$2,627,878$930,503$187,893$1,509,482
9$2,732,993$969,395$195,409$1,568,189
10$2,842,313$1,009,843$203,225$1,629,244
11$2,956,005$1,051,910$211,354$1,692,741
12$3,074,245$1,095,658$219,809$1,758,778
13$3,197,215$1,141,157$228,601$1,827,457
14$3,325,104$1,188,476$237,745$1,898,883
15$3,458,108$1,237,688$247,255$1,973,165
16$3,596,432$1,288,868$257,145$2,050,420
17$3,740,289$1,342,095$267,431$2,130,764
18$3,889,901$1,397,451$278,128$2,214,322
19$4,045,497$1,455,022$289,253$2,301,222
20$4,207,317$1,514,895$300,823$2,391,599
21$4,375,610$1,577,163$312,856$2,485,590
22$4,550,634$1,641,922$325,370$2,583,341
23$4,732,659$1,709,272$338,385$2,685,002
24$4,921,966$1,779,315$351,921$2,790,730
25$5,118,844$1,852,160$365,997$2,900,687
26$5,323,598$1,927,919$380,637$3,015,042
27$5,536,542$2,006,708$395,863$3,133,971
28$5,758,004$2,088,649$411,697$3,257,657
29$5,988,324$2,173,868$428,165$3,386,291
30$6,227,857$2,262,495$445,292$3,520,070
Total$112,000,000$40,185,632$8,008,000$63,806,366

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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.