USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Apr 30, 1997

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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 $26,000,000 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:Wed, Apr 30, 1997
Jackpot:$26,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$463,583$132,629$21,788$309,166
2$482,126$139,119$22,660$320,347
3$501,411$145,869$23,566$331,976
4$521,467$152,888$24,509$344,070
5$542,326$160,189$25,489$356,648
6$564,019$167,781$26,509$369,729
7$586,580$175,678$27,569$383,333
8$610,043$183,904$28,672$397,467
9$634,445$192,932$29,819$411,694
10$659,823$202,322$31,012$426,489
11$686,215$212,087$32,252$441,876
12$713,664$222,243$33,542$457,878
13$742,211$232,806$34,884$474,521
14$771,899$243,790$36,279$491,829
15$802,775$255,215$37,730$509,830
16$834,886$267,096$39,240$528,551
17$868,281$279,452$40,809$548,020
18$903,013$292,302$42,442$568,269
19$939,133$305,667$44,139$589,327
20$976,699$319,566$45,905$611,228
21$1,015,767$334,021$47,741$634,004
22$1,056,397$349,055$49,651$657,692
23$1,098,653$364,689$51,637$682,327
24$1,142,599$380,949$53,702$707,948
25$1,188,303$397,860$55,850$734,593
26$1,235,835$415,447$58,084$762,304
27$1,285,269$433,737$60,408$791,124
28$1,336,679$452,759$62,824$821,096
29$1,390,147$472,542$65,337$852,268
30$1,445,752$493,116$67,950$884,686
Total$26,000,000$8,377,710$1,221,999$16,400,290

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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.