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Illinois Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$695,900$98,850$1,202,221
2$2,076,850$725,455$102,804$1,248,591
3$2,159,924$756,192$106,916$1,296,816
4$2,246,321$788,159$111,193$1,346,969
5$2,336,174$821,405$115,641$1,399,129
6$2,429,621$855,980$120,266$1,453,375
7$2,526,806$891,938$125,077$1,509,790
8$2,627,878$929,335$130,080$1,568,463
9$2,732,993$968,228$135,283$1,629,482
10$2,842,313$1,008,676$140,694$1,692,942
11$2,956,005$1,050,742$146,322$1,758,941
12$3,074,245$1,094,491$152,175$1,827,579
13$3,197,215$1,139,990$158,262$1,898,963
14$3,325,104$1,187,309$164,593$1,973,202
15$3,458,108$1,236,520$171,176$2,050,411
16$3,596,432$1,287,700$178,023$2,130,709
17$3,740,289$1,340,927$185,144$2,214,218
18$3,889,901$1,396,284$192,550$2,301,067
19$4,045,497$1,453,854$200,252$2,391,391
20$4,207,317$1,513,728$208,262$2,485,327
21$4,375,610$1,575,996$216,593$2,583,021
22$4,550,634$1,640,755$225,256$2,684,623
23$4,732,659$1,708,104$234,267$2,790,288
24$4,921,966$1,778,148$243,637$2,900,181
25$5,118,844$1,850,993$253,383$3,014,469
26$5,323,598$1,926,752$263,518$3,133,328
27$5,536,542$2,005,541$274,059$3,256,942
28$5,758,004$2,087,482$285,021$3,385,501
29$5,988,324$2,172,700$296,422$3,519,202
30$6,227,857$2,261,327$308,279$3,658,251
Total$112,000,000$40,150,611$5,543,998$66,305,392

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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.