USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Feb 20, 2002

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $32,000,000 for a ticket purchased in New York, 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:

New York

Drawing Date:Wed, Feb 20, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$62,191$338,300
2$593,386$178,060$64,679$350,647
3$617,121$186,523$67,266$363,332
4$641,806$195,656$69,957$376,193
5$667,478$205,155$72,755$389,568
6$694,177$215,033$75,665$403,479
7$721,944$225,307$78,692$417,945
8$750,822$235,992$81,840$432,991
9$780,855$247,104$85,113$448,638
10$812,089$258,661$88,518$464,911
11$844,573$270,680$92,058$481,835
12$878,356$283,179$95,741$499,436
13$913,490$296,179$99,570$517,741
14$950,030$309,699$103,553$536,778
15$988,031$323,759$107,695$556,576
16$1,027,552$338,382$112,003$577,167
17$1,068,654$353,590$116,483$598,581
18$1,111,400$369,406$121,143$620,852
19$1,155,856$385,855$125,988$644,013
20$1,202,091$402,961$131,028$668,101
21$1,250,174$420,752$136,269$693,153
22$1,300,181$439,255$141,720$719,207
23$1,352,188$458,497$147,389$746,302
24$1,406,276$478,510$153,284$774,482
25$1,462,527$499,323$159,415$803,789
26$1,521,028$520,968$165,792$834,268
27$1,581,869$543,479$172,424$865,966
28$1,645,144$566,891$179,321$898,932
29$1,710,950$591,239$186,494$933,217
30$1,779,388$616,561$193,953$968,873
Total$32,000,000$10,586,728$3,487,999$17,925,273

◄ Back to Jackpot Analysis

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.