USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Illinois

Media: You may freely use any information on this page, but you must credit www.usamega.com.

The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $80,000,000 would be for a resident of Illinois, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Illinois

Drawing Date:  Wed, May 25, 2016
Jackpot:$80,000,000
Federal Tax:  25%
State Tax:3.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,204,115$301,029$45,154$857,932
2$1,264,321$316,080$47,412$900,828
3$1,327,537$331,884$49,783$945,870
4$1,393,913$348,478$52,272$993,163
5$1,463,609$365,902$54,885$1,042,821
6$1,536,790$384,197$57,630$1,094,963
7$1,613,629$403,407$60,511$1,149,711
8$1,694,310$423,578$63,537$1,207,196
9$1,779,026$444,757$66,713$1,267,556
10$1,867,977$466,994$70,049$1,330,934
11$1,961,376$490,344$73,552$1,397,481
12$2,059,445$514,861$77,229$1,467,355
13$2,162,417$540,604$81,091$1,540,722
14$2,270,538$567,635$85,145$1,617,758
15$2,384,065$596,016$89,402$1,698,646
16$2,503,268$625,817$93,873$1,783,579
17$2,628,432$657,108$98,566$1,872,758
18$2,759,853$689,963$103,494$1,966,395
19$2,897,846$724,461$108,669$2,064,715
20$3,042,738$760,685$114,103$2,167,951
21$3,194,875$798,719$119,808$2,276,348
22$3,354,619$838,655$125,798$2,390,166
23$3,522,350$880,587$132,088$2,509,674
24$3,698,467$924,617$138,693$2,635,158
25$3,883,391$970,848$145,627$2,766,916
26$4,077,560$1,019,390$152,909$2,905,262
27$4,281,438$1,070,360$160,554$3,050,525
28$4,495,510$1,123,878$168,582$3,203,051
29$4,720,286$1,180,071$177,011$3,363,203
30$4,956,300$1,239,075$185,861$3,531,364
Total$80,000,000$20,000,000$3,000,000$57,000,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  Terms of Use
Copyright © 1999-2016 Speednet Group.  All rights reserved.