USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Nov 21, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2022 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 prize money, as well as deductions claimed.

State:

Maine

Drawing Date:Mon, Nov 21, 2022
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$301,029$79,113$21,524$200,392
2$316,080$84,381$22,600$209,099
3$331,884$89,912$23,730$218,242
4$348,478$95,720$24,916$227,842
5$365,902$101,819$26,162$237,921
6$384,197$108,222$27,470$248,505
7$403,407$114,946$28,844$259,618
8$423,578$122,005$30,286$271,287
9$444,757$129,418$31,800$283,539
10$466,994$137,201$33,390$296,403
11$490,344$145,373$35,060$309,911
12$514,861$153,954$36,813$324,094
13$540,604$162,979$38,653$338,973
14$567,635$172,980$40,586$354,069
15$596,016$183,481$42,615$369,920
16$625,817$194,507$44,746$386,564
17$657,108$206,085$46,983$404,040
18$689,963$218,241$49,332$422,390
19$724,461$231,006$51,799$441,657
20$760,685$244,408$54,389$461,887
21$798,719$258,481$57,108$483,129
22$838,655$273,257$59,964$505,434
23$880,587$288,772$62,962$528,853
24$924,617$305,063$66,110$553,443
25$970,848$322,169$69,416$579,263
26$1,019,390$340,129$72,886$606,374
27$1,070,360$358,988$76,531$634,841
28$1,123,878$378,790$80,357$664,731
29$1,180,071$399,581$84,375$696,115
30$1,239,075$421,413$88,594$729,068
Total$20,000,000$6,322,394$1,430,001$12,247,604

◄ Back to Jackpot Analysis

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.