Massachusetts(MA) Powerball Prize Analysis for Wed Mar 20, 2024

Massachusetts(MA) Powerball Prize Analysis for Wed Mar 20, 2024
Updated: Tuesday, March 19th, 2024 12:21 AM

The estimated jackpot for Powerball on Wed Mar 20, 2024 is $687 million. The cash option is $327.3 million. The Powerball prize analysis tells you how much you would get after state, local and federal tax withholdings.

As legally required by the state of Massachusetts, taxes are withheld on lottery winnings of $600.00 or more. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. The Massachusetts state tax rate for lottery winning is 5%.

  • Prize Analysis for $327.3 Million Cash Option - The federal tax that must be withheld is $81,825,000.00. Massachusetts state tax withholding amounts to $16,365,000.00. A single winner will receive $229,110,000.00 after tax deduction.
  • Prize Analysis for $687 Million Annuity - The winner gets paid in 30 annual payments in the average amount of $22,900,000.00 per year. The average federal tax liability is $5,725,000.00 per year. The average annual Massachusetts state tax withholding amounts to $1,145,000.00. A single winner will receive an average yearly net payment in the amount of $16,030,000.00 after tax deduction.

Please Note: Powerball annuity payments are NOT allocated evenly by years. The payments increase annually in a 30 year period. Please see below for the detailed payment schedule.

For detailed information of Massachusetts Powerball Lottery Winning Taxes and Prizes Analysis, see the data listed below.

Massachusetts(MA) Powerball Prize Analysis for Wed Mar 20, 2024
Wed Mar 20, 2024  Jackpot: $687 Million  Cash: $327.3 Million

Cash Option - $327.3 Million
Gross Cash Payment25% Federal Withholding State WithholdingLump-Sum Net Payment
$327,300,000.00-$81,825,000.00-$16,365,000.00$229,110,000.00

Annuity - $687 Million in 30 Annual Payments
Yr Annual Gross Payment 25% Federal Withholding State Withholding Annual Net Payment
1$12,249,278.10-$3,062,319.53-$612,463.91$8,574,494.67
2$12,739,249.23-$3,184,812.31-$636,962.46$8,917,474.46
3$13,248,819.20-$3,312,204.80-$662,440.96$9,274,173.44
4$13,778,771.97-$3,444,692.99-$688,938.60$9,645,140.38
5$14,329,922.84-$3,582,480.71-$716,496.14$10,030,945.99
6$14,903,119.76-$3,725,779.94-$745,155.99$10,432,183.83
7$15,499,244.55-$3,874,811.14-$774,962.23$10,849,471.18
8$16,119,214.33-$4,029,803.58-$805,960.72$11,283,450.03
9$16,763,982.90-$4,190,995.73-$838,199.15$11,734,788.03
10$17,434,542.22-$4,358,635.56-$871,727.11$12,204,179.55
11$18,131,923.91-$4,532,980.98-$906,596.20$12,692,346.74
12$18,857,200.87-$4,714,300.22-$942,860.04$13,200,040.61
13$19,611,488.90-$4,902,872.23-$980,574.45$13,728,042.23
14$20,395,948.46-$5,098,987.11-$1,019,797.42$14,277,163.92
15$21,211,786.39-$5,302,946.60-$1,060,589.32$14,848,250.48
16$22,060,257.85-$5,515,064.46-$1,103,012.89$15,442,180.50
17$22,942,668.16-$5,735,667.04-$1,147,133.41$16,059,867.71
18$23,860,374.89-$5,965,093.72-$1,193,018.74$16,702,262.42
19$24,814,789.89-$6,203,697.47-$1,240,739.49$17,370,352.92
20$25,807,381.48-$6,451,845.37-$1,290,369.07$18,065,167.04
21$26,839,676.74-$6,709,919.19-$1,341,983.84$18,787,773.72
22$27,913,263.81-$6,978,315.95-$1,395,663.19$19,539,284.67
23$29,029,794.36-$7,257,448.59-$1,451,489.72$20,320,856.05
24$30,190,986.14-$7,547,746.53-$1,509,549.31$21,133,690.30
25$31,398,625.58-$7,849,656.40-$1,569,931.28$21,979,037.91
26$32,654,570.61-$8,163,642.65-$1,632,728.53$22,858,199.42
27$33,960,753.43-$8,490,188.36-$1,698,037.67$23,772,527.40
28$35,319,183.57-$8,829,795.89-$1,765,959.18$24,723,428.50
29$36,731,950.91-$9,182,987.73-$1,836,597.55$25,712,365.64
30$38,201,228.95-$9,550,307.24-$1,910,061.45$26,740,860.26

Other Prizes With More Than $5,000.00
5 White Ball25% Federal Withholding State WithholdingNet Payment
$1,000,000.00-$250,000.00-$50,000.00$700,000.00
5 White Ball
with PowerPlay
25% Federal Withholding State WithholdingNet Payment
$2,000,000.00-$500,000.00-$100,000.00$1,400,000.00
4 White Ball
Powerball
25% Federal Withholding State WithholdingNet Payment
$10,000.00-$2,500.00-$500.00$7,000.00
4 White Ball
Powerball
with PowerPlay
25% Federal Withholding State WithholdingNet Payment
$40,000.00-$10,000.00-$2,000.00$28,000.00


Past Prize Analysis for Powerball

More Prize Analysis for Massachusetts(MA) Powerball

 Massachusetts Powerball SUN MON TUE WED THU FRI SAT
10
17
20
39
44
PB:
16
Mon Mar 18, 2024 Last 10 | Calendar | Search
Intelli-Combos | Power Picks | Frequency Chart | Overdue Chart
Win Checker | Lotto Wheels | Prize Analysis
News & Payout | Skip and Hit Analysis
Massachusetts(MA) Powerball Latest Drawing Results
Next Draw: Wed Mar 20, 2024
$687,000,000 
Change: +$42,000,000







 
Home |  About Us |  Privacy Policy |  Site Map |  Terms of Use |  Contact Us
MALOTTERYX.COM is not associated with the official Massachusetts State Lottery. The information contained in this website is provided for informational purposes only. Every effort has been made to ensure that the winning numbers and other information posted on this website are accurate. No valid claim may be based on the winning numbers or other information contained on this website. MALOTTERYX.COM makes no warranties, guarantees or representations, of any kind, express or implied, as to the content, accuracy, completeness, reliability or timeliness of the information contained in this website or in the sites of any links provided herein. The information should always be verified by contacting the Official Lottery before it is used in any way. In the event of a discrepancy between the numbers posted on this website and the official winning numbers, the official winning numbers shall control.