USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for May 22, 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 $12,000,000 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, May 22, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$10,056$157,751
2$222,520$48,893$10,458$163,168
3$231,420$51,741$10,877$168,803
4$240,677$54,703$11,312$174,662
5$250,304$57,981$11,764$180,559
6$260,317$61,486$12,235$186,596
7$270,729$65,130$12,724$192,875
8$281,558$68,920$13,233$199,405
9$292,821$72,862$13,763$206,196
10$304,533$76,961$14,313$213,259
11$316,715$81,225$14,886$220,604
12$329,383$85,659$15,481$228,243
13$342,559$90,270$16,100$236,188
14$356,261$95,066$16,744$244,451
15$370,512$100,054$17,414$253,044
16$385,332$105,241$18,111$261,980
17$400,745$110,636$18,835$271,275
18$416,775$116,246$19,588$280,941
19$433,446$122,081$20,372$290,993
20$450,784$128,149$21,187$301,448
21$468,815$134,460$22,034$312,321
22$487,568$141,024$22,916$323,629
23$507,071$147,849$23,832$335,389
24$527,353$154,948$24,786$347,619
25$548,448$162,331$25,777$360,339
26$570,386$170,010$26,808$373,568
27$593,201$177,995$27,880$387,325
28$616,929$186,451$28,996$401,482
29$641,606$195,582$30,155$415,869
30$667,270$205,078$31,362$430,831
Total$12,000,000$3,315,186$563,999$8,120,813

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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.