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Powerball Annuity Jackpot Analysis for Indiana (Nov. 10, 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 $92,000,000 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:  Nov. 10, 2018
Jackpot:$92,000,000
Federal Tax:  24%
State Tax:3.23%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,384,732$332,336$44,727$1,007,669
2$1,453,969$348,952$46,963$1,058,053
3$1,526,667$366,400$49,311$1,110,956
4$1,603,000$384,720$51,777$1,166,503
5$1,683,150$403,956$54,366$1,224,829
6$1,767,308$424,154$57,084$1,286,070
7$1,855,673$445,362$59,938$1,350,374
8$1,948,457$467,630$62,935$1,417,892
9$2,045,880$491,011$66,082$1,488,787
10$2,148,174$515,562$69,386$1,563,226
11$2,255,583$541,340$72,855$1,641,387
12$2,368,362$568,407$76,498$1,723,457
13$2,486,780$596,827$80,323$1,809,630
14$2,611,119$626,669$84,339$1,900,111
15$2,741,675$658,002$88,556$1,995,117
16$2,878,758$690,902$92,984$2,094,873
17$3,022,696$725,447$97,633$2,199,616
18$3,173,831$761,719$102,515$2,309,597
19$3,332,523$799,805$107,640$2,425,077
20$3,499,149$839,796$113,023$2,546,331
21$3,674,106$881,786$118,674$2,673,647
22$3,857,812$925,875$124,607$2,807,330
23$4,050,702$972,169$130,838$2,947,696
24$4,253,237$1,020,777$137,380$3,095,081
25$4,465,899$1,071,816$144,249$3,249,835
26$4,689,194$1,125,407$151,461$3,412,327
27$4,923,654$1,181,677$159,034$3,582,943
28$5,169,837$1,240,761$166,986$3,762,090
29$5,428,328$1,302,799$175,335$3,950,195
30$5,699,745$1,367,939$184,102$4,147,704
Total$92,000,000$22,080,000$2,971,600$66,948,400
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