USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Mar 2, 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 $20,000,000 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, Mar 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$25,497$235,919
2$370,866$100,178$26,517$244,171
3$385,701$105,370$27,578$252,753
4$401,129$110,770$28,681$261,678
5$417,174$116,386$29,828$270,960
6$433,861$122,226$31,021$280,614
7$451,215$128,300$32,262$290,653
8$469,264$134,617$33,552$301,094
9$488,034$141,187$34,894$311,953
10$507,556$148,019$36,290$323,246
11$527,858$155,125$37,742$334,991
12$548,972$162,515$39,252$347,206
13$570,931$170,201$40,822$359,909
14$593,769$178,194$42,454$373,120
15$617,519$186,670$44,153$386,697
16$642,220$195,809$45,919$400,492
17$667,909$205,314$47,755$414,839
18$694,625$215,199$49,666$429,760
19$722,410$225,480$51,652$445,278
20$751,307$236,171$53,718$461,417
21$781,359$247,291$55,867$478,201
22$812,613$258,855$58,102$495,657
23$845,118$270,881$60,426$513,811
24$878,922$283,389$62,843$532,690
25$914,079$296,397$65,357$552,326
26$950,643$309,925$67,971$572,746
27$988,668$323,995$70,690$593,983
28$1,028,215$338,627$73,517$616,070
29$1,069,344$353,845$76,458$639,041
30$1,112,117$369,671$79,516$662,930
Total$20,000,000$6,185,792$1,430,000$12,384,205

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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.