USA Mega

Illinois Powerball Jackpot Annuity Payout Schedule for Jun 1, 2002

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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 $21,300,000 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, Jun 1, 2002
Jackpot:$21,300,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$379,781$103,298$18,799$257,684
2$394,972$108,615$19,551$266,806
3$410,771$114,145$20,333$276,293
4$427,202$119,895$21,147$286,160
5$444,290$125,876$21,992$296,422
6$462,062$132,096$22,872$307,093
7$480,544$138,565$23,787$318,192
8$499,766$145,293$24,738$329,735
9$519,757$152,290$25,728$341,739
10$540,547$159,566$26,757$354,224
11$562,169$167,134$27,827$367,208
12$584,656$175,004$28,940$380,711
13$608,042$183,189$30,098$394,754
14$632,363$192,162$31,302$408,899
15$657,658$201,521$32,554$423,583
16$683,964$211,255$33,856$438,854
17$711,323$221,377$35,210$454,735
18$739,776$231,905$36,619$471,252
19$769,367$242,853$38,084$488,430
20$800,142$254,240$39,607$506,294
21$832,147$266,082$41,191$524,874
22$865,433$278,398$42,839$544,196
23$900,050$291,206$44,552$564,292
24$936,052$304,527$46,335$585,191
25$973,495$318,381$48,188$606,926
26$1,012,434$332,788$50,115$629,530
27$1,052,932$347,772$52,120$653,039
28$1,095,049$363,356$54,205$677,488
29$1,138,851$379,563$56,373$702,915
30$1,184,405$396,418$58,628$729,359
Total$21,300,000$6,658,770$1,054,347$13,586,878

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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.