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Illinois Powerball Jackpot Annuity Payout Schedule for Aug 31, 2011

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The tax information provided here is based on 2025 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 $76,500,000 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:Wed, Aug 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$461,701$67,518$834,783
2$1,418,563$481,888$70,219$866,455
3$1,475,305$502,883$73,028$899,394
4$1,534,317$524,718$75,949$933,651
5$1,595,690$547,426$78,987$969,278
6$1,659,518$571,042$82,146$1,006,330
7$1,725,898$595,603$85,432$1,044,864
8$1,794,934$621,146$88,849$1,084,939
9$1,866,732$647,711$92,403$1,126,618
10$1,941,401$675,339$96,099$1,169,963
11$2,019,057$704,071$99,943$1,215,042
12$2,099,819$733,953$103,941$1,261,925
13$2,183,812$765,031$108,099$1,310,683
14$2,271,165$797,351$112,423$1,361,391
15$2,362,011$830,964$116,920$1,414,127
16$2,456,492$865,922$121,596$1,468,973
17$2,554,751$902,278$126,460$1,526,013
18$2,656,941$940,089$131,519$1,585,334
19$2,763,219$979,411$136,779$1,647,028
20$2,873,748$1,020,307$142,251$1,711,190
21$2,988,698$1,062,838$147,941$1,777,919
22$3,108,246$1,107,071$153,858$1,847,316
23$3,232,575$1,153,073$160,012$1,919,490
24$3,361,878$1,200,915$166,413$1,994,550
25$3,496,354$1,250,671$173,069$2,072,613
26$3,636,208$1,302,417$179,992$2,153,798
27$3,781,656$1,356,233$187,192$2,238,231
28$3,932,922$1,412,201$194,680$2,326,041
29$4,090,239$1,470,409$202,467$2,417,364
30$4,253,849$1,530,944$210,566$2,512,339
Total$76,500,000$27,015,606$3,786,751$45,697,642

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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.