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Powerball Annuity Jackpot Analysis for Indiana (Oct. 27, 2018 Drawing)

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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 $687,800,000 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:  Oct. 27, 2018
Jackpot:$687,800,000
Federal Tax:  24%
State Tax:3.23%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,352,377$2,484,570$334,382$7,533,425
2$10,869,996$2,608,799$351,101$7,910,096
3$11,413,496$2,739,239$368,656$8,305,601
4$11,984,171$2,876,201$387,089$8,720,881
5$12,583,379$3,020,011$406,443$9,156,925
6$13,212,548$3,171,011$426,765$9,614,771
7$13,873,176$3,329,562$448,104$10,095,510
8$14,566,834$3,496,040$470,509$10,600,285
9$15,295,176$3,670,842$494,034$11,130,300
10$16,059,935$3,854,384$518,736$11,686,814
11$16,862,932$4,047,104$544,673$12,271,155
12$17,706,078$4,249,459$571,906$12,884,713
13$18,591,382$4,461,932$600,502$13,528,949
14$19,520,951$4,685,028$630,527$14,205,396
15$20,496,998$4,919,280$662,053$14,915,666
16$21,521,849$5,165,244$695,156$15,661,449
17$22,597,941$5,423,506$729,913$16,444,521
18$23,727,838$5,694,681$766,409$17,266,748
19$24,914,230$5,979,415$804,730$18,130,085
20$26,159,941$6,278,386$844,966$19,036,589
21$27,467,938$6,592,305$887,214$19,988,419
22$28,841,335$6,921,920$931,575$20,987,840
23$30,283,402$7,268,016$978,154$22,037,232
24$31,797,572$7,631,417$1,027,062$23,139,093
25$33,387,450$8,012,988$1,078,415$24,296,048
26$35,056,823$8,413,638$1,132,335$25,510,850
27$36,809,665$8,834,319$1,188,952$26,786,393
28$38,650,147$9,276,035$1,248,400$28,125,712
29$40,582,655$9,739,837$1,310,820$29,531,998
30$42,611,788$10,226,829$1,376,361$31,008,598
Total$687,800,001$165,072,000$22,215,940$500,512,061
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