Massachusetts(MA) Powerball Prize Analysis for Wed Nov 27, 2013

Massachusetts(MA) Powerball Prize Analysis for Wed Nov 27, 2013
Updated: Sunday, November 24th, 2013 12:29 AM

The estimated jackpot for Powerball on Wed Nov 27, 2013 is $60 million. The cash option is $33.5 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 $33.5 Million Cash Option - The federal tax that must be withheld is $8,375,000.00. Massachusetts state tax withholding amounts to $1,675,000.00. A single winner will receive $23,450,000.00 after tax deduction.
  • Prize Analysis for $60 Million Annuity - The winner gets paid in 30 annual payments in the average amount of $2,000,000.00 per year. The average federal tax liability is $500,000.00 per year. The average annual Massachusetts state tax withholding amounts to $100,000.00. A single winner will receive an average yearly net payment in the amount of $1,400,000.00 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 Nov 27, 2013
Wed Nov 27, 2013  Jackpot: $60 Million  Cash: $33.5 Million

Cash Option - $33.5 Million
Gross Cash Payment25% Federal Withholding State WithholdingLump-Sum Net Payment
$33,500,000.00-$8,375,000.00-$1,675,000.00$23,450,000.00

Annuity - $60 Million in 30 Annual Payments
Yr Annual Gross Payment 25% Federal Withholding State Withholding Annual Net Payment
1$1,069,805.95-$267,451.49-$53,490.30$748,864.16
2$1,112,598.19-$278,149.55-$55,629.91$778,818.73
3$1,157,102.11-$289,275.53-$57,855.11$809,971.48
4$1,203,386.20-$300,846.55-$60,169.31$842,370.34
5$1,251,521.65-$312,880.41-$62,576.08$876,065.15
6$1,301,582.51-$325,395.63-$65,079.13$911,107.76
7$1,353,645.81-$338,411.45-$67,682.29$947,552.07
8$1,407,791.64-$351,947.91-$70,389.58$985,454.15
9$1,464,103.31-$366,025.83-$73,205.17$1,024,872.32
10$1,522,667.44-$380,666.86-$76,133.37$1,065,867.21
11$1,583,574.14-$395,893.54-$79,178.71$1,108,501.90
12$1,646,917.11-$411,729.28-$82,345.86$1,152,841.97
13$1,712,793.79-$428,198.45-$85,639.69$1,198,955.65
14$1,781,305.54-$445,326.39-$89,065.28$1,246,913.88
15$1,852,557.76-$463,139.44-$92,627.89$1,296,790.43
16$1,926,660.07-$481,665.02-$96,333.00$1,348,662.05
17$2,003,726.48-$500,931.62-$100,186.32$1,402,608.53
18$2,083,875.54-$520,968.88-$104,193.78$1,458,712.88
19$2,167,230.56-$541,807.64-$108,361.53$1,517,061.39
20$2,253,919.78-$563,479.95-$112,695.99$1,577,743.85
21$2,344,076.57-$586,019.14-$117,203.83$1,640,853.60
22$2,437,839.63-$609,459.91-$121,891.98$1,706,487.74
23$2,535,353.22-$633,838.30-$126,767.66$1,774,747.25
24$2,636,767.35-$659,191.84-$131,838.37$1,845,737.14
25$2,742,238.04-$685,559.51-$137,111.90$1,919,566.63
26$2,851,927.56-$712,981.89-$142,596.38$1,996,349.29
27$2,966,004.67-$741,501.17-$148,300.23$2,076,203.27
28$3,084,644.85-$771,161.21-$154,232.24$2,159,251.40
29$3,208,030.65-$802,007.66-$160,401.53$2,245,621.45
30$3,336,351.87-$834,087.97-$166,817.59$2,335,446.31

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
34
39
42
44
59
PB:
8
Wed Apr 16, 2014 Last 10 | Calendar | Search
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Massachusetts(MA) Powerball Latest Drawing Results
Next Draw: Sat Apr 19, 2014
Jackpot: $128.00 Million 
Change: +$18.00 Million








 
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