USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Jan 14, 2012

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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 $65,900,000 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, Jan 14, 2012
Jackpot:$65,900,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,175,004$392,939$55,225$726,839
2$1,222,004$410,329$57,434$754,240
3$1,270,884$428,415$59,732$782,738
4$1,321,719$447,224$62,121$812,375
5$1,374,588$466,785$64,606$843,197
6$1,429,571$487,129$67,190$875,252
7$1,486,754$508,287$69,877$908,590
8$1,546,224$530,291$72,673$943,261
9$1,608,073$553,175$75,579$979,319
10$1,672,396$576,974$78,603$1,016,819
11$1,739,292$601,726$81,747$1,055,820
12$1,808,864$627,467$85,017$1,096,380
13$1,881,219$654,239$88,417$1,138,563
14$1,956,467$682,081$91,954$1,182,433
15$2,034,726$711,036$95,632$1,228,057
16$2,116,115$741,150$99,457$1,275,507
17$2,200,760$772,469$103,436$1,324,855
18$2,288,790$805,040$107,573$1,376,177
19$2,380,342$838,914$111,876$1,429,551
20$2,475,555$874,143$116,351$1,485,061
21$2,574,577$910,781$121,005$1,542,791
22$2,677,561$948,885$125,845$1,602,830
23$2,784,663$988,513$130,879$1,665,271
24$2,896,049$1,029,726$136,114$1,730,209
25$3,011,891$1,072,588$141,559$1,797,745
26$3,132,367$1,117,164$147,221$1,867,982
27$3,257,662$1,163,523$153,110$1,941,029
28$3,387,968$1,211,736$159,235$2,016,998
29$3,523,487$1,261,878$165,604$2,096,005
30$3,664,426$1,314,026$172,228$2,178,173
Total$65,900,000$23,128,633$3,097,300$39,674,067

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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.