USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Oct 5, 2011

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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 $60,200,000 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, Oct 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$76,746$641,290
2$1,116,307$371,221$79,816$665,270
3$1,160,959$387,743$83,009$690,208
4$1,207,397$404,925$86,329$716,144
5$1,255,693$422,794$89,782$743,117
6$1,305,921$441,379$93,373$771,169
7$1,358,158$460,706$97,108$800,343
8$1,412,484$480,807$100,993$830,685
9$1,468,984$501,712$105,032$862,240
10$1,527,743$523,453$109,234$895,057
11$1,588,853$546,063$113,603$929,186
12$1,652,407$569,578$118,147$964,681
13$1,718,503$594,034$122,873$1,001,596
14$1,787,243$619,468$127,788$1,039,988
15$1,858,733$645,919$132,899$1,079,915
16$1,933,082$673,428$138,215$1,121,439
17$2,010,406$702,038$143,744$1,164,624
18$2,090,822$731,792$149,494$1,209,536
19$2,174,455$762,736$155,474$1,256,245
20$2,261,433$794,918$161,692$1,304,822
21$2,351,890$828,387$168,160$1,355,343
22$2,445,966$863,195$174,887$1,407,884
23$2,543,804$899,395$181,882$1,462,527
24$2,645,557$937,044$189,157$1,519,356
25$2,751,379$976,198$196,724$1,578,457
26$2,861,434$1,016,918$204,593$1,639,923
27$2,975,891$1,059,268$212,776$1,703,848
28$3,094,927$1,103,311$221,287$1,770,329
29$3,218,724$1,149,116$230,139$1,839,470
30$3,347,473$1,196,753$239,344$1,911,376
Total$60,200,000$21,019,634$4,304,300$34,876,068

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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.