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

Powerball Annuity Jackpot Analysis for Illinois (Dec. 15, 2018 Drawing)

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 $246,000,000 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:  Dec. 15, 2018
Jackpot:$246,000,000
Federal Tax:  24%
State Tax:4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,702,653$888,637$183,281$2,630,735
2$3,887,786$933,069$192,445$2,762,272
3$4,082,175$979,722$202,068$2,900,385
4$4,286,284$1,028,708$212,171$3,045,405
5$4,500,598$1,080,143$222,780$3,197,675
6$4,725,628$1,134,151$233,919$3,357,559
7$4,961,909$1,190,858$245,615$3,525,437
8$5,210,005$1,250,401$257,895$3,701,708
9$5,470,505$1,312,921$270,790$3,886,794
10$5,744,030$1,378,567$284,329$4,081,133
11$6,031,232$1,447,496$298,546$4,285,190
12$6,332,793$1,519,870$313,473$4,499,450
13$6,649,433$1,595,864$329,147$4,724,422
14$6,981,905$1,675,657$345,604$4,960,643
15$7,331,000$1,759,440$362,884$5,208,675
16$7,697,550$1,847,412$381,029$5,469,109
17$8,082,427$1,939,783$400,080$5,742,565
18$8,486,549$2,036,772$420,084$6,029,693
19$8,910,876$2,138,610$441,088$6,331,177
20$9,356,420$2,245,541$463,143$6,647,736
21$9,824,241$2,357,818$486,300$6,980,123
22$10,315,453$2,475,709$510,615$7,329,129
23$10,831,226$2,599,494$536,146$7,695,586
24$11,372,787$2,729,469$562,953$8,080,365
25$11,941,426$2,865,942$591,101$8,484,383
26$12,538,497$3,009,239$620,656$8,908,602
27$13,165,422$3,159,701$651,688$9,354,033
28$13,823,693$3,317,686$684,273$9,821,734
29$14,514,878$3,483,571$718,486$10,312,821
30$15,240,622$3,657,749$754,411$10,828,462
Total$246,000,000$59,040,000$12,177,000$174,783,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2019 Speednet Group.  All rights reserved.