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Illinois Powerball Jackpot Annuity Payout Schedule for Oct 8, 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 $74,100,000 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, Oct 8, 2011
Jackpot:$74,100,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,321,210$447,036$65,400$808,775
2$1,374,059$466,589$68,016$839,453
3$1,429,021$486,926$70,737$871,359
4$1,486,182$508,075$73,566$904,541
5$1,545,629$530,071$76,509$939,050
6$1,607,454$552,946$79,569$974,940
7$1,671,753$576,736$82,752$1,012,265
8$1,738,623$601,478$86,062$1,051,083
9$1,808,168$627,210$89,504$1,091,454
10$1,880,494$653,971$93,084$1,133,439
11$1,955,714$681,802$96,808$1,177,104
12$2,033,943$710,747$100,680$1,222,516
13$2,115,300$740,849$104,707$1,269,744
14$2,199,912$772,155$108,896$1,318,861
15$2,287,909$804,714$113,251$1,369,943
16$2,379,425$838,575$117,782$1,423,069
17$2,474,602$873,791$122,493$1,478,319
18$2,573,586$910,415$127,393$1,535,779
19$2,676,530$948,504$132,488$1,595,538
20$2,783,591$988,116$137,788$1,657,687
21$2,894,935$1,029,314$143,299$1,722,322
22$3,010,732$1,072,159$149,031$1,789,542
23$3,131,161$1,116,717$154,992$1,859,451
24$3,256,408$1,163,059$161,192$1,932,157
25$3,386,664$1,211,253$167,640$2,007,771
26$3,522,131$1,261,376$174,345$2,086,409
27$3,663,016$1,313,504$181,319$2,168,193
28$3,809,536$1,367,716$188,572$2,253,248
29$3,961,918$1,424,097$196,115$2,341,706
30$4,120,395$1,482,734$203,960$2,433,701
Total$74,100,000$26,162,635$3,667,950$44,269,419

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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.