USA Mega

Illinois Powerball Jackpot Annuity Payout Schedule for May 13, 2000

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $35,100,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Illinois

Drawing Date:Sat, May 13, 2000
Jackpot:$35,100,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$625,836$189,747$30,979$405,110
2$650,870$199,010$32,218$419,642
3$676,905$208,643$33,507$434,755
4$703,981$218,661$34,847$450,473
5$732,140$229,080$36,241$466,820
6$761,426$239,915$37,691$483,820
7$791,883$251,184$39,198$501,500
8$823,558$262,904$40,766$519,888
9$856,500$275,093$42,397$539,011
10$890,760$287,769$44,093$558,899
11$926,391$300,952$45,856$579,582
12$963,447$314,663$47,691$601,093
13$1,001,984$328,922$49,598$623,464
14$1,042,064$343,751$51,582$646,730
15$1,083,746$359,174$53,645$670,927
16$1,127,096$375,213$55,791$696,092
17$1,172,180$391,894$58,023$722,263
18$1,219,067$409,243$60,344$749,481
19$1,267,830$427,285$62,758$777,787
20$1,318,543$446,049$65,268$807,227
21$1,371,285$465,563$67,879$837,843
22$1,426,136$485,858$70,594$869,684
23$1,483,182$506,965$73,417$902,799
24$1,542,509$528,916$76,354$937,239
25$1,604,209$551,745$79,408$973,056
26$1,668,378$575,487$82,585$1,010,305
27$1,735,113$600,179$85,888$1,049,045
28$1,804,517$625,859$89,324$1,089,335
29$1,876,698$652,566$92,897$1,131,235
30$1,951,766$680,341$96,612$1,174,812
Total$35,100,000$11,732,631$1,737,451$21,629,917

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.