USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Apr 24, 2023

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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 $28,200,000 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:Mon, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$30,348$275,170
2$445,673$126,360$31,866$287,447
3$467,957$134,160$33,459$300,338
4$491,354$142,349$35,132$313,874
5$515,922$150,948$36,888$328,086
6$541,718$159,976$38,733$343,009
7$568,804$169,456$40,670$358,679
8$597,244$179,410$42,703$375,131
9$627,107$190,217$44,838$392,051
10$658,462$201,819$47,080$409,563
11$691,385$214,000$49,434$427,951
12$725,954$226,791$51,906$447,258
13$762,252$240,221$54,501$467,530
14$800,365$254,323$57,226$488,816
15$840,383$269,129$60,087$511,166
16$882,402$284,677$63,092$534,634
17$926,522$301,001$66,246$559,275
18$972,848$318,142$69,559$585,148
19$1,021,491$336,139$73,037$612,315
20$1,072,565$355,037$76,688$640,840
21$1,126,193$374,879$80,523$670,791
22$1,182,503$395,714$84,549$702,240
23$1,241,628$417,590$88,776$735,262
24$1,303,710$440,560$93,215$769,934
25$1,368,895$464,679$97,876$806,340
26$1,437,340$490,004$102,770$844,567
27$1,509,207$516,594$107,908$884,704
28$1,584,667$544,515$113,304$926,849
29$1,663,901$573,831$118,969$971,101
30$1,747,096$604,613$124,917$1,017,565
Total$28,200,000$9,196,066$2,016,300$16,987,634

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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.