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Illinois Powerball Jackpot Annuity Payout Schedule for Dec 31, 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 $25,000,000 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, Dec 31, 2011
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$445,752$126,388$22,065$297,300
2$463,583$132,629$22,947$308,007
3$482,126$139,119$23,865$319,142
4$501,411$145,869$24,820$330,723
5$521,467$152,888$25,813$342,766
6$542,326$160,189$26,845$355,292
7$564,019$167,781$27,919$368,319
8$586,580$175,678$29,036$381,866
9$610,043$183,904$30,197$395,942
10$634,445$192,932$31,405$410,107
11$659,823$202,322$32,661$424,839
12$686,215$212,087$33,968$440,160
13$713,664$222,243$35,326$456,094
14$742,211$232,806$36,739$472,666
15$771,899$243,790$38,209$489,900
16$802,775$255,215$39,737$507,823
17$834,886$267,096$41,327$526,464
18$868,281$279,452$42,980$545,850
19$903,013$292,302$44,699$566,011
20$939,133$305,667$46,487$586,979
21$976,699$319,566$48,347$608,786
22$1,015,767$334,021$50,280$631,465
23$1,056,397$349,055$52,292$655,051
24$1,098,653$364,689$54,383$679,580
25$1,142,599$380,949$56,559$705,091
26$1,188,303$397,860$58,821$731,622
27$1,235,835$415,447$61,174$759,215
28$1,285,269$433,737$63,621$787,911
29$1,336,679$452,759$66,166$817,755
30$1,390,147$472,542$68,812$848,792
Total$25,000,000$8,010,982$1,237,500$15,751,518

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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.