USA Mega

South Dakota Powerball Jackpot Annuity Payout Schedule for Jun 8, 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 $30,600,000 for a ticket purchased in South 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:

South Dakota

Drawing Date:Sat, Jun 8, 2002
Jackpot:$30,600,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$545,601$161,335$0$384,266
2$567,425$168,974$0$398,452
3$590,122$176,917$0$413,205
4$613,727$185,267$0$428,460
5$638,276$194,350$0$443,926
6$663,807$203,796$0$460,011
7$690,359$213,621$0$476,739
8$717,974$223,838$0$494,136
9$746,693$234,464$0$512,229
10$776,560$245,515$0$531,045
11$807,623$257,008$0$550,615
12$839,928$268,961$0$570,967
13$873,525$281,392$0$592,133
14$908,466$294,320$0$614,146
15$944,804$307,765$0$637,039
16$982,597$321,749$0$660,848
17$1,021,901$336,291$0$685,610
18$1,062,777$351,415$0$711,361
19$1,105,288$367,144$0$738,143
20$1,149,499$383,502$0$765,997
21$1,195,479$400,515$0$794,964
22$1,243,298$418,208$0$825,090
23$1,293,030$436,609$0$856,421
24$1,344,751$455,746$0$889,006
25$1,398,541$475,648$0$922,893
26$1,454,483$496,346$0$958,137
27$1,512,662$517,873$0$994,790
28$1,573,169$540,260$0$1,032,909
29$1,636,096$563,543$0$1,072,552
30$1,701,539$587,757$0$1,113,782
Total$30,600,000$10,070,129$0$20,529,872

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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.