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Illinois Powerball Jackpot Annuity Payout Schedule for Dec 21, 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 $105,600,000 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, Dec 21, 2011
Jackpot:$105,600,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,882,858$654,845$93,201$1,134,812
2$1,958,173$682,712$96,930$1,178,532
3$2,036,500$711,693$100,807$1,224,000
4$2,117,960$741,833$104,839$1,271,288
5$2,202,678$773,179$109,033$1,320,467
6$2,290,785$805,778$113,394$1,371,613
7$2,382,417$839,682$117,930$1,424,805
8$2,477,713$874,942$122,647$1,480,125
9$2,576,822$911,612$127,553$1,537,657
10$2,679,895$949,749$132,655$1,597,491
11$2,787,090$989,411$137,961$1,659,718
12$2,898,574$1,030,660$143,479$1,724,435
13$3,014,517$1,073,559$149,219$1,791,739
14$3,135,098$1,118,174$155,187$1,861,736
15$3,260,502$1,164,573$161,395$1,934,533
16$3,390,922$1,212,829$167,851$2,010,242
17$3,526,559$1,263,014$174,565$2,088,980
18$3,667,621$1,315,207$181,547$2,170,866
19$3,814,326$1,369,488$188,809$2,256,028
20$3,966,899$1,425,940$196,361$2,344,597
21$4,125,575$1,484,650$204,216$2,436,708
22$4,290,598$1,545,709$212,385$2,532,504
23$4,462,222$1,609,210$220,880$2,632,132
24$4,640,711$1,675,251$229,715$2,735,745
25$4,826,339$1,743,933$238,904$2,843,502
26$5,019,393$1,815,363$248,460$2,955,570
27$5,220,168$1,889,650$258,398$3,072,120
28$5,428,975$1,966,908$268,734$3,193,332
29$5,646,134$2,047,257$279,484$3,319,393
30$5,871,979$2,130,820$290,663$3,450,496
Total$105,600,000$37,817,631$5,227,202$62,555,166

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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.