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Maine Powerball Jackpot Annuity Payout Schedule for Sep 7, 2024

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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 $111,500,000 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:Sat, Sep 7, 2024
Jackpot:$111,500,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,678,235$579,135$119,994$979,106
2$1,762,147$610,182$125,993$1,025,971
3$1,850,254$642,782$132,293$1,075,179
4$1,942,767$677,011$138,908$1,126,848
5$2,039,905$712,953$145,853$1,181,099
6$2,141,900$750,691$153,146$1,238,064
7$2,248,995$790,316$160,803$1,297,876
8$2,361,445$831,922$168,843$1,360,679
9$2,479,517$875,609$177,286$1,426,623
10$2,603,493$921,480$186,150$1,495,863
11$2,733,668$969,645$195,457$1,568,566
12$2,870,351$1,020,218$205,230$1,644,904
13$3,013,869$1,073,319$215,492$1,725,058
14$3,164,562$1,129,076$226,266$1,809,220
15$3,322,791$1,187,620$237,580$1,897,591
16$3,488,930$1,249,092$249,459$1,990,380
17$3,663,377$1,313,637$261,931$2,087,808
18$3,846,545$1,381,410$275,028$2,190,108
19$4,038,873$1,452,571$288,779$2,297,523
20$4,240,816$1,527,290$303,218$2,410,308
21$4,452,857$1,605,745$318,379$2,528,733
22$4,675,500$1,688,123$334,298$2,653,079
23$4,909,275$1,774,619$351,013$2,783,642
24$5,154,739$1,865,441$368,564$2,920,734
25$5,412,476$1,960,804$386,992$3,064,680
26$5,683,099$2,060,935$406,342$3,215,823
27$5,967,254$2,166,072$426,659$3,374,524
28$6,265,617$2,276,466$447,992$3,541,159
29$6,578,898$2,392,380$470,391$3,716,127
30$6,907,843$2,514,090$493,911$3,899,843
Total$111,500,000$40,000,634$7,972,250$63,527,118

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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.