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Powerball Annuity Jackpot Analysis for Indiana

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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 $304,000,000 would be for a resident of Indiana, 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:

Indiana

Drawing Date:  Sat, Feb 23, 2019
Jackpot:$304,000,000
Federal Tax:  24%
State Tax:3.23%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,575,636$1,098,153$147,793$3,329,690
2$4,804,418$1,153,060$155,183$3,496,175
3$5,044,639$1,210,713$162,942$3,670,984
4$5,296,871$1,271,249$171,089$3,854,533
5$5,561,714$1,334,811$179,643$4,047,260
6$5,839,800$1,401,552$188,626$4,249,623
7$6,131,790$1,471,630$198,057$4,462,104
8$6,438,380$1,545,211$207,960$4,685,209
9$6,760,299$1,622,472$218,358$4,919,469
10$7,098,314$1,703,595$229,276$5,165,443
11$7,453,229$1,788,775$240,739$5,423,715
12$7,825,891$1,878,214$252,776$5,694,901
13$8,217,185$1,972,124$265,415$5,979,646
14$8,628,045$2,070,731$278,686$6,278,628
15$9,059,447$2,174,267$292,620$6,592,559
16$9,512,419$2,282,981$307,251$6,922,188
17$9,988,040$2,397,130$322,614$7,268,297
18$10,487,442$2,516,986$338,744$7,631,712
19$11,011,814$2,642,835$355,682$8,013,297
20$11,562,405$2,774,977$373,466$8,413,962
21$12,140,525$2,913,726$392,139$8,834,660
22$12,747,551$3,059,412$411,746$9,276,393
23$13,384,929$3,212,383$432,333$9,740,213
24$14,054,175$3,373,002$453,950$10,227,223
25$14,756,884$3,541,652$476,647$10,738,585
26$15,494,729$3,718,735$500,480$11,275,514
27$16,269,465$3,904,672$525,504$11,839,290
28$17,082,938$4,099,905$551,779$12,431,254
29$17,937,085$4,304,900$579,368$13,052,817
30$18,833,939$4,520,145$608,336$13,705,458
Total$304,000,001$72,960,000$9,819,200$221,220,800
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