USA Mega

North Dakota Powerball Jackpot Annuity Payout Schedule for Sep 21, 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 $12,000,000 for a ticket purchased in North Dakota, 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:

North Dakota

Drawing Date:Sat, Sep 21, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 2.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$6,205$161,602
2$222,520$48,893$6,453$167,174
3$231,420$51,741$6,711$172,968
4$240,677$54,703$6,980$178,994
5$250,304$57,981$7,259$185,064
6$260,317$61,486$7,549$191,282
7$270,729$65,130$7,851$197,748
8$281,558$68,920$8,165$204,473
9$292,821$72,862$8,492$211,467
10$304,533$76,961$8,831$218,741
11$316,715$81,225$9,185$226,305
12$329,383$85,659$9,552$234,172
13$342,559$90,270$9,934$242,354
14$356,261$95,066$10,332$250,863
15$370,512$100,054$10,745$259,713
16$385,332$105,241$11,175$268,916
17$400,745$110,636$11,622$278,488
18$416,775$116,246$12,086$288,443
19$433,446$122,081$12,570$298,795
20$450,784$128,149$13,073$309,562
21$468,815$134,460$13,596$320,760
22$487,568$141,024$14,139$332,405
23$507,071$147,849$14,705$344,516
24$527,353$154,948$15,293$357,112
25$548,448$162,331$15,905$370,211
26$570,386$170,010$16,541$383,835
27$593,201$177,995$17,203$398,003
28$616,929$186,451$17,891$412,587
29$641,606$195,582$18,607$427,418
30$667,270$205,078$19,351$442,842
Total$12,000,000$3,315,186$348,001$8,336,813

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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.