USA Mega

Illinois Powerball Jackpot Annuity Payout Schedule for Oct 27, 2004

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The tax information provided here is based on 2025 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 $20,300,000 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:Wed, Oct 27, 2004
Jackpot:$20,300,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,951$96,230$17,917$247,804
2$376,429$101,297$18,633$256,498
3$391,486$106,567$19,379$265,540
4$407,146$112,048$20,154$274,944
5$423,431$117,748$20,960$284,723
6$440,369$123,676$21,798$294,894
7$457,983$129,841$22,670$305,472
8$476,303$136,253$23,577$316,473
9$495,355$142,921$24,520$327,913
10$515,169$149,856$25,501$339,812
11$535,776$157,069$26,521$352,186
12$557,207$164,570$27,582$365,056
13$579,495$172,371$28,685$378,440
14$602,675$180,484$29,832$392,359
15$626,782$188,930$31,026$406,827
16$651,853$198,206$32,267$421,381
17$677,927$207,853$33,557$436,517
18$705,045$217,887$34,900$452,258
19$733,246$228,321$36,296$468,629
20$762,576$239,173$37,748$485,655
21$793,079$250,460$39,257$503,362
22$824,802$262,197$40,828$521,778
23$857,795$274,404$42,461$540,929
24$892,106$287,100$44,159$560,847
25$927,791$300,303$45,926$581,562
26$964,902$314,034$47,763$603,105
27$1,003,498$328,315$49,673$625,510
28$1,043,638$343,166$51,660$648,812
29$1,085,384$358,612$53,726$673,045
30$1,128,799$374,676$55,876$698,248
Total$20,300,000$6,264,568$1,004,852$13,030,579

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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.