USA Mega

Texas Powerball Jackpot Annuity Payout Schedule for Sep 11, 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 $87,000,000 for a ticket purchased in Texas, 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:

Texas

Drawing Date:Wed, Sep 11, 2002
Jackpot:$87,000,000
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$1,551,219$532,139$0$1,019,080
2$1,613,267$555,097$0$1,058,171
3$1,677,798$578,973$0$1,098,825
4$1,744,910$603,804$0$1,141,106
5$1,814,706$629,629$0$1,185,077
6$1,887,295$656,487$0$1,230,808
7$1,962,786$684,419$0$1,278,368
8$2,041,298$713,468$0$1,327,830
9$2,122,950$743,679$0$1,379,271
10$2,207,868$775,099$0$1,432,769
11$2,296,183$807,775$0$1,488,407
12$2,388,030$841,759$0$1,546,271
13$2,483,551$877,102$0$1,606,449
14$2,582,893$913,858$0$1,669,035
15$2,686,209$952,085$0$1,734,124
16$2,793,657$991,841$0$1,801,816
17$2,905,403$1,033,187$0$1,872,216
18$3,021,620$1,076,187$0$1,945,433
19$3,142,484$1,120,907$0$2,021,577
20$3,268,184$1,167,416$0$2,100,768
21$3,398,911$1,215,785$0$2,183,126
22$3,534,867$1,266,089$0$2,268,779
23$3,676,262$1,318,405$0$2,357,857
24$3,823,313$1,372,813$0$2,450,499
25$3,976,245$1,429,398$0$2,546,847
26$4,135,295$1,488,247$0$2,647,048
27$4,300,707$1,549,449$0$2,751,258
28$4,472,735$1,613,100$0$2,859,635
29$4,651,644$1,679,296$0$2,972,348
30$4,837,710$1,748,141$0$3,089,570
Total$87,000,000$30,935,634$0$56,064,368

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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.