USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Aug 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 $62,400,000 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, Aug 31, 2002
Jackpot:$62,400,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,112,598$369,849$52,292$690,457
2$1,157,102$386,316$54,384$716,403
3$1,203,386$403,441$56,559$743,386
4$1,251,522$421,251$58,822$771,449
5$1,301,583$439,773$61,174$800,635
6$1,353,646$459,037$63,621$830,988
7$1,407,792$479,071$66,166$862,555
8$1,464,103$499,906$68,813$895,384
9$1,522,667$521,575$71,565$929,527
10$1,583,574$544,110$74,428$965,036
11$1,646,917$567,547$77,405$1,001,965
12$1,712,794$591,921$80,501$1,040,371
13$1,781,306$617,271$83,721$1,080,313
14$1,852,558$643,634$87,070$1,121,853
15$1,926,660$671,052$90,553$1,165,055
16$2,003,726$699,567$94,175$1,209,985
17$2,083,876$729,222$97,942$1,256,712
18$2,167,231$760,063$101,860$1,305,308
19$2,253,920$792,138$105,934$1,355,847
20$2,344,077$825,496$110,172$1,408,409
21$2,437,840$860,188$114,578$1,463,073
22$2,535,353$896,268$119,162$1,519,923
23$2,636,767$933,792$123,928$1,579,048
24$2,742,238$972,816$128,885$1,640,537
25$2,851,928$1,013,401$134,041$1,704,486
26$2,966,005$1,055,609$139,402$1,770,993
27$3,084,645$1,099,506$144,978$1,840,160
28$3,208,031$1,145,159$150,777$1,912,094
29$3,336,352$1,192,638$156,809$1,986,905
30$3,469,806$1,242,016$163,081$2,064,709
Total$62,400,000$21,833,633$2,932,798$37,633,566

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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.