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Mississippi Powerball Jackpot Annuity Payout Schedule for Oct 12, 2011

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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 $87,200,000 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, Oct 12, 2011
Jackpot:$87,200,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,554,785$533,458$73,075$948,252
2$1,616,976$556,469$75,998$984,509
3$1,681,655$580,400$79,038$1,022,217
4$1,748,921$605,289$82,199$1,061,433
5$1,818,878$631,173$85,487$1,102,218
6$1,891,633$658,092$88,907$1,144,634
7$1,967,299$686,088$92,463$1,188,747
8$2,045,991$715,204$96,162$1,234,625
9$2,127,830$745,485$100,008$1,282,337
10$2,212,943$776,977$104,008$1,331,958
11$2,301,461$809,728$108,169$1,383,564
12$2,393,520$843,790$112,495$1,437,234
13$2,489,260$879,214$116,995$1,493,051
14$2,588,831$916,055$121,675$1,551,101
15$2,692,384$954,370$126,542$1,611,472
16$2,800,079$994,217$131,604$1,674,258
17$2,912,082$1,035,658$136,868$1,739,556
18$3,028,566$1,078,757$142,343$1,807,466
19$3,149,708$1,123,580$148,036$1,878,092
20$3,275,697$1,170,196$153,958$1,951,543
21$3,406,725$1,218,676$160,116$2,027,933
22$3,542,994$1,269,095$166,521$2,107,378
23$3,684,713$1,321,532$173,182$2,190,000
24$3,832,102$1,376,065$180,109$2,275,928
25$3,985,386$1,432,781$187,313$2,365,292
26$4,144,801$1,491,764$194,806$2,458,231
27$4,310,593$1,553,107$202,598$2,554,888
28$4,483,017$1,616,904$210,702$2,655,411
29$4,662,338$1,683,253$219,130$2,759,955
30$4,848,831$1,752,255$227,895$2,868,681
Total$87,200,000$31,009,632$4,098,402$52,091,964

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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.