USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for May 18, 2002

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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 $10,000,000 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:Sat, May 18, 2002
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$178,301$35,835$8,380$134,086
2$185,433$37,546$8,715$139,171
3$192,850$39,399$9,064$144,388
4$200,564$41,867$9,427$149,271
5$208,587$44,434$9,804$154,349
6$216,930$47,104$10,196$159,630
7$225,608$49,881$10,604$165,123
8$234,632$52,769$11,028$170,836
9$244,017$55,781$11,469$176,768
10$253,778$59,197$11,928$182,653
11$263,929$62,750$12,405$188,774
12$274,486$66,445$12,901$195,140
13$285,466$70,288$13,417$201,761
14$296,884$74,284$13,954$208,646
15$308,760$78,441$14,512$215,807
16$321,110$82,763$15,092$223,255
17$333,954$87,259$15,696$231,000
18$347,313$91,934$16,324$239,055
19$361,205$96,797$16,977$247,432
20$375,653$101,853$17,656$256,144
21$390,679$107,113$18,362$265,205
22$406,307$112,582$19,096$274,628
23$422,559$118,270$19,860$284,428
24$439,461$124,186$20,655$294,620
25$457,040$130,339$21,481$305,220
26$475,321$136,737$22,340$316,244
27$494,334$143,392$23,234$327,709
28$514,107$150,312$24,163$339,632
29$534,672$157,510$25,130$352,032
30$556,059$164,995$26,135$364,929
Total$10,000,000$2,622,063$470,005$6,907,936

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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.