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Maine Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$67,692$570,564
2$994,072$325,994$71,076$597,001
3$1,043,776$344,385$74,630$624,761
4$1,095,964$363,695$78,361$653,908
5$1,150,763$383,970$82,280$684,513
6$1,208,301$405,259$86,394$716,648
7$1,268,716$427,613$90,713$750,390
8$1,332,152$451,084$95,249$785,819
9$1,398,759$475,729$100,011$823,019
10$1,468,697$501,606$105,012$862,080
11$1,542,132$528,777$110,262$903,093
12$1,619,239$557,306$115,776$946,157
13$1,700,201$587,262$121,564$991,374
14$1,785,211$618,716$127,643$1,038,852
15$1,874,471$651,742$134,025$1,088,704
16$1,968,195$686,420$140,726$1,141,049
17$2,066,604$722,831$147,762$1,196,011
18$2,169,935$761,064$155,150$1,253,721
19$2,278,431$801,207$162,908$1,314,316
20$2,392,353$843,358$171,053$1,377,941
21$2,511,971$887,617$179,606$1,444,748
22$2,637,569$934,088$188,586$1,514,895
23$2,769,447$982,883$198,015$1,588,549
24$2,907,920$1,034,118$207,916$1,665,885
25$3,053,316$1,087,915$218,312$1,747,089
26$3,205,982$1,144,401$229,228$1,832,353
27$3,366,281$1,203,712$240,689$1,921,880
28$3,534,595$1,265,988$252,724$2,015,883
29$3,711,324$1,331,378$265,360$2,114,587
30$3,896,891$1,400,037$278,628$2,218,226
Total$62,900,000$22,018,635$4,497,351$36,384,016

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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.