USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Jul 31, 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 $14,000,000 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, Jul 31, 2002
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$249,621$57,742$11,732$180,147
2$259,606$61,237$12,201$186,168
3$269,990$64,871$12,690$192,430
4$280,790$68,651$13,197$198,942
5$292,022$72,582$13,725$205,714
6$303,703$76,671$14,274$212,758
7$315,851$80,922$14,845$220,083
8$328,485$85,344$15,439$227,702
9$341,624$89,943$16,056$235,625
10$355,289$94,726$16,699$243,865
11$369,501$99,700$17,367$252,434
12$384,281$104,873$18,061$261,346
13$399,652$110,253$18,784$270,615
14$415,638$115,848$19,535$280,255
15$432,263$121,667$20,316$290,280
16$449,554$127,719$21,129$300,706
17$467,536$134,012$21,974$311,550
18$486,238$140,558$22,853$322,827
19$505,687$147,365$23,767$334,555
20$525,915$154,445$24,718$346,752
21$546,951$161,808$25,707$359,437
22$568,829$169,465$26,735$372,629
23$591,582$177,429$27,804$386,349
24$615,246$185,829$28,917$400,501
25$639,856$194,934$30,073$414,848
26$665,450$204,404$31,276$429,769
27$692,068$214,253$32,527$445,288
28$719,750$224,495$33,828$461,427
29$748,540$235,148$35,181$478,211
30$778,482$246,226$36,589$495,667
Total$14,000,000$4,023,120$657,999$9,318,880

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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.