USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Jul 6, 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 $20,900,000 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, Jul 6, 2002
Jackpot:$20,900,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$372,649$100,802$17,515$254,333
2$387,555$106,019$18,215$263,321
3$403,057$111,445$18,944$272,669
4$419,180$117,088$19,701$282,391
5$435,947$122,956$20,489$292,501
6$453,385$129,059$21,309$303,016
7$471,520$135,407$22,161$313,952
8$490,381$142,008$23,048$325,325
9$509,996$148,873$23,970$337,153
10$530,396$156,013$24,929$349,454
11$551,612$163,439$25,926$362,247
12$573,676$171,161$26,963$375,552
13$596,623$179,193$28,041$389,389
14$620,488$187,768$29,163$403,557
15$645,308$196,952$30,329$418,027
16$671,120$206,502$31,543$433,075
17$697,965$216,435$32,804$448,726
18$725,883$226,765$34,117$465,002
19$754,919$237,508$35,481$481,930
20$785,115$248,680$36,900$499,535
21$816,520$260,300$38,376$517,843
22$849,181$272,385$39,911$536,885
23$883,148$284,953$41,508$556,688
24$918,474$298,023$43,168$577,283
25$955,213$311,617$44,895$598,701
26$993,421$325,754$46,691$620,977
27$1,033,158$340,456$48,558$644,144
28$1,074,485$355,747$50,501$668,237
29$1,117,464$371,649$52,521$693,294
30$1,162,163$388,188$54,622$719,353
Total$20,900,000$6,513,145$982,299$13,404,560

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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.