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Illinois Powerball Jackpot Annuity Payout Schedule for May 18, 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 $98,900,000 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, May 18, 2011
Jackpot:$98,900,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,763,397$610,645$87,288$1,065,464
2$1,833,933$636,743$90,780$1,106,410
3$1,907,290$663,885$94,411$1,148,994
4$1,983,582$692,113$98,187$1,193,281
5$2,062,925$721,470$102,115$1,239,340
6$2,145,442$752,001$106,199$1,287,241
7$2,231,260$783,754$110,447$1,337,058
8$2,320,510$816,776$114,865$1,388,868
9$2,413,330$851,120$119,460$1,442,750
10$2,509,864$886,837$124,238$1,498,788
11$2,610,258$923,983$129,208$1,557,067
12$2,714,668$962,615$134,376$1,617,677
13$2,823,255$1,002,792$139,751$1,680,712
14$2,936,185$1,044,576$145,341$1,746,268
15$3,053,633$1,088,032$151,155$1,814,446
16$3,175,778$1,133,226$157,201$1,885,351
17$3,302,809$1,180,227$163,489$1,959,093
18$3,434,922$1,229,109$170,029$2,035,784
19$3,572,318$1,279,946$176,830$2,115,543
20$3,715,211$1,332,816$183,903$2,198,492
21$3,863,820$1,387,801$191,259$2,284,759
22$4,018,372$1,444,986$198,909$2,374,477
23$4,179,107$1,504,457$206,866$2,467,784
24$4,346,272$1,566,308$215,140$2,564,823
25$4,520,122$1,630,633$223,746$2,665,743
26$4,700,927$1,697,531$232,696$2,770,701
27$4,888,964$1,767,105$242,004$2,879,856
28$5,084,523$1,839,461$251,684$2,993,378
29$5,287,904$1,914,712$261,751$3,111,440
30$5,499,420$1,992,973$272,221$3,234,226
Total$98,900,000$35,338,633$4,895,549$58,665,814

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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.