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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 $127,000,000 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:  Wed, Aug 24, 2016
Jackpot:$127,000,000
Federal Tax:  25%
State Tax:3.40%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,911,532$477,883$64,992$1,368,657
2$2,007,109$501,777$68,242$1,437,090
3$2,107,464$526,866$71,654$1,508,944
4$2,212,838$553,209$75,236$1,584,392
5$2,323,479$580,870$78,998$1,663,611
6$2,439,653$609,913$82,948$1,746,792
7$2,561,636$640,409$87,096$1,834,131
8$2,689,718$672,429$91,450$1,925,838
9$2,824,204$706,051$96,023$2,022,130
10$2,965,414$741,353$100,824$2,123,236
11$3,113,685$778,421$105,865$2,229,398
12$3,269,369$817,342$111,159$2,340,868
13$3,432,837$858,209$116,716$2,457,912
14$3,604,479$901,120$122,552$2,580,807
15$3,784,703$946,176$128,680$2,709,847
16$3,973,938$993,485$135,114$2,845,340
17$4,172,635$1,043,159$141,870$2,987,607
18$4,381,267$1,095,317$148,963$3,136,987
19$4,600,330$1,150,083$156,411$3,293,836
20$4,830,347$1,207,587$164,232$3,458,528
21$5,071,864$1,267,966$172,443$3,631,455
22$5,325,457$1,331,364$181,066$3,813,027
23$5,591,730$1,397,933$190,119$4,003,679
24$5,871,317$1,467,829$199,625$4,203,863
25$6,164,883$1,541,221$209,606$4,414,056
26$6,473,127$1,618,282$220,086$4,634,759
27$6,796,783$1,699,196$231,091$4,866,497
28$7,136,622$1,784,156$242,645$5,109,821
29$7,493,453$1,873,363$254,777$5,365,313
30$7,868,126$1,967,031$267,516$5,633,578
Total$127,000,000$31,750,000$4,318,000$90,932,000
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