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Illinois Powerball Jackpot Annuity Payout Schedule for Oct 5, 2011

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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 $60,200,000 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 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$53,132$664,905
2$1,116,307$371,221$55,257$689,828
3$1,160,959$387,743$57,467$715,749
4$1,207,397$404,925$59,766$742,706
5$1,255,693$422,794$62,157$770,742
6$1,305,921$441,379$64,643$799,899
7$1,358,158$460,706$67,229$830,223
8$1,412,484$480,807$69,918$861,759
9$1,468,984$501,712$72,715$894,557
10$1,527,743$523,453$75,623$928,667
11$1,588,853$546,063$78,648$964,141
12$1,652,407$569,578$81,794$1,001,034
13$1,718,503$594,034$85,066$1,039,403
14$1,787,243$619,468$88,469$1,079,307
15$1,858,733$645,919$92,007$1,120,807
16$1,933,082$673,428$95,688$1,163,967
17$2,010,406$702,038$99,515$1,208,853
18$2,090,822$731,792$103,496$1,255,534
19$2,174,455$762,736$107,636$1,304,083
20$2,261,433$794,918$111,941$1,354,574
21$2,351,890$828,387$116,419$1,407,084
22$2,445,966$863,195$121,075$1,461,695
23$2,543,804$899,395$125,918$1,518,491
24$2,645,557$937,044$130,955$1,577,558
25$2,751,379$976,198$136,193$1,638,988
26$2,861,434$1,016,918$141,641$1,702,875
27$2,975,891$1,059,268$147,307$1,769,317
28$3,094,927$1,103,311$153,199$1,838,417
29$3,218,724$1,149,116$159,327$1,910,282
30$3,347,473$1,196,753$165,700$1,985,020
Total$60,200,000$21,019,634$2,979,901$36,200,465

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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.