USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Sep 28, 1996

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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 $12,700,000 for a ticket purchased in Mississippi, 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:

Mississippi

Drawing Date:Sat, Sep 28, 1996
Jackpot:$12,700,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$226,442$50,148$10,643$165,651
2$235,500$53,046$11,068$171,385
3$244,920$56,097$11,511$177,312
4$254,717$59,526$11,972$183,219
5$264,905$63,092$12,451$189,363
6$275,502$66,800$12,949$195,753
7$286,522$70,657$13,467$202,398
8$297,983$74,669$14,005$209,309
9$309,902$78,840$14,565$216,496
10$322,298$83,179$15,148$223,971
11$335,190$87,691$15,754$231,745
12$348,597$92,384$16,384$239,830
13$362,541$97,264$17,039$248,238
14$377,043$102,340$17,721$256,982
15$392,125$107,618$18,430$266,076
16$407,810$113,108$19,167$275,535
17$424,122$118,817$19,934$285,371
18$441,087$124,755$20,731$295,601
19$458,730$130,930$21,560$306,240
20$477,080$137,353$22,423$317,304
21$496,163$144,032$23,320$328,811
22$516,009$150,978$24,252$340,779
23$536,650$158,202$25,223$353,225
24$558,116$165,715$26,231$366,169
25$580,440$173,529$27,281$379,631
26$603,658$181,655$28,372$393,631
27$627,804$190,475$29,507$407,822
28$652,916$199,767$30,687$422,463
29$679,033$209,430$31,915$437,689
30$706,194$219,480$33,191$453,524
Total$12,700,000$3,561,577$596,901$8,541,523

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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.