USA Mega

Mississippi Powerball Jackpot Annuity Payout Schedule for Nov 23, 2022

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The tax information provided here is based on 2022 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 $32,200,000 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 prize money, as well as deductions claimed.

State:

Mississippi

Drawing Date:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$24,233$317,041
2$508,889$151,864$25,444$331,580
3$534,333$160,770$26,717$346,847
4$561,050$170,544$28,053$362,454
5$589,103$180,923$29,455$378,725
6$618,558$191,821$30,928$395,809
7$649,486$203,265$32,474$413,747
8$681,960$215,280$34,098$432,582
9$716,058$227,896$35,803$452,359
10$751,861$241,144$37,593$473,124
11$789,454$255,053$39,473$494,928
12$828,927$269,658$41,446$517,822
13$870,373$284,993$43,519$541,861
14$913,892$301,095$45,695$567,102
15$959,586$318,002$47,979$593,605
16$1,007,565$335,754$50,378$621,433
17$1,057,944$354,394$52,897$650,652
18$1,110,841$373,966$55,542$681,333
19$1,166,383$394,517$58,319$713,547
20$1,224,702$416,095$61,235$747,372
21$1,285,937$438,752$64,297$782,889
22$1,350,234$462,542$67,512$820,181
23$1,417,746$487,521$70,887$859,338
24$1,488,633$513,749$74,432$900,452
25$1,563,065$541,289$78,153$943,623
26$1,641,218$570,206$82,061$988,951
27$1,723,279$600,568$86,164$1,036,547
28$1,809,443$632,449$90,472$1,086,522
29$1,899,915$665,924$94,996$1,138,996
30$1,994,911$701,072$99,746$1,194,093
Total$32,200,000$10,804,489$1,610,001$19,785,515

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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.