USA Mega

Pennsylvania Powerball Jackpot Annuity Payout Schedule for May 22, 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 Pennsylvania, 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:

Pennsylvania

Drawing Date:Wed, May 22, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$6,569$161,239
2$222,520$48,893$6,831$166,796
3$231,420$51,741$7,105$172,575
4$240,677$54,703$7,389$178,585
5$250,304$57,981$7,684$184,639
6$260,317$61,486$7,992$190,839
7$270,729$65,130$8,311$197,288
8$281,558$68,920$8,644$203,994
9$292,821$72,862$8,990$210,969
10$304,533$76,961$9,349$218,223
11$316,715$81,225$9,723$225,767
12$329,383$85,659$10,112$233,612
13$342,559$90,270$10,517$241,772
14$356,261$95,066$10,937$250,258
15$370,512$100,054$11,375$259,083
16$385,332$105,241$11,830$268,261
17$400,745$110,636$12,303$277,807
18$416,775$116,246$12,795$287,734
19$433,446$122,081$13,307$298,058
20$450,784$128,149$13,839$308,796
21$468,815$134,460$14,393$319,963
22$487,568$141,024$14,968$331,576
23$507,071$147,849$15,567$343,654
24$527,353$154,948$16,190$356,215
25$548,448$162,331$16,837$369,279
26$570,386$170,010$17,511$382,865
27$593,201$177,995$18,211$396,995
28$616,929$186,451$18,940$411,538
29$641,606$195,582$19,697$426,327
30$667,270$205,078$20,485$441,707
Total$12,000,000$3,315,186$368,401$8,316,414

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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.