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Illinois Powerball Jackpot Annuity Payout Schedule for Dec 10, 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 $65,500,000 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, Dec 10, 2011
Jackpot:$65,500,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,167,871$390,300$57,810$719,762
2$1,214,586$407,585$60,122$746,880
3$1,263,170$425,561$62,527$775,082
4$1,313,697$444,255$65,028$804,413
5$1,366,244$463,698$67,629$834,917
6$1,420,894$483,919$70,334$866,641
7$1,477,730$504,948$73,148$899,635
8$1,536,839$526,818$76,074$933,947
9$1,598,313$549,563$79,116$969,633
10$1,662,245$573,219$82,281$1,006,746
11$1,728,735$597,820$85,572$1,045,343
12$1,797,885$623,405$88,995$1,085,484
13$1,869,800$650,014$92,555$1,127,231
14$1,944,592$677,687$96,257$1,170,648
15$2,022,376$706,467$100,108$1,215,801
16$2,103,271$736,398$104,112$1,262,761
17$2,187,401$767,526$108,276$1,311,599
18$2,274,897$799,900$112,607$1,362,390
19$2,365,893$833,568$117,112$1,415,213
20$2,460,529$868,584$121,796$1,470,149
21$2,558,950$904,999$126,668$1,527,283
22$2,661,308$942,872$131,735$1,586,702
23$2,767,761$982,259$137,004$1,648,497
24$2,878,471$1,023,222$142,484$1,712,765
25$2,993,610$1,065,823$148,184$1,779,603
26$3,113,354$1,110,129$154,111$1,849,114
27$3,237,888$1,156,206$160,275$1,921,406
28$3,367,404$1,204,127$166,686$1,996,590
29$3,502,100$1,253,965$173,354$2,074,781
30$3,642,184$1,305,796$180,288$2,156,100
Total$65,500,000$22,980,633$3,242,248$39,277,116

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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.