USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Sep 17, 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 $20,000,000 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:Sat, Sep 17, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$16,760$244,656
2$370,866$100,178$17,431$253,257
3$385,701$105,370$18,128$262,203
4$401,129$110,770$18,853$271,506
5$417,174$116,386$19,607$281,181
6$433,861$122,226$20,391$291,243
7$451,215$128,300$21,207$301,708
8$469,264$134,617$22,055$312,591
9$488,034$141,187$22,938$323,910
10$507,556$148,019$23,855$335,681
11$527,858$155,125$24,809$347,924
12$548,972$162,515$25,802$360,656
13$570,931$170,201$26,834$373,897
14$593,769$178,194$27,907$387,668
15$617,519$186,670$29,023$401,826
16$642,220$195,809$30,184$416,227
17$667,909$205,314$31,392$431,203
18$694,625$215,199$32,647$446,779
19$722,410$225,480$33,953$462,977
20$751,307$236,171$35,311$479,824
21$781,359$247,291$36,724$497,344
22$812,613$258,855$38,193$515,566
23$845,118$270,881$39,721$534,516
24$878,922$283,389$41,309$554,224
25$914,079$296,397$42,962$574,721
26$950,643$309,925$44,680$596,037
27$988,668$323,995$46,467$618,206
28$1,028,215$338,627$48,326$641,262
29$1,069,344$353,845$50,259$665,240
30$1,112,117$369,671$52,270$690,177
Total$20,000,000$6,185,792$939,998$12,874,210

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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.