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Illinois Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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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 $179,700,000 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, Jun 6, 2012
Jackpot:$179,700,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,204,069$1,143,693$158,601$1,901,774
2$3,332,232$1,191,113$164,945$1,976,173
3$3,465,521$1,240,430$171,543$2,053,547
4$3,604,142$1,291,720$178,405$2,134,016
5$3,748,307$1,345,061$185,541$2,217,705
6$3,898,240$1,400,536$192,963$2,304,740
7$4,054,169$1,458,230$200,681$2,395,257
8$4,216,336$1,518,232$208,709$2,489,395
9$4,384,989$1,580,634$217,057$2,587,299
10$4,560,389$1,645,532$225,739$2,689,118
11$4,742,805$1,713,025$234,769$2,795,010
12$4,932,517$1,783,219$244,160$2,905,138
13$5,129,817$1,856,220$253,926$3,019,671
14$5,335,010$1,932,141$264,083$3,138,786
15$5,548,411$2,011,100$274,646$3,262,665
16$5,770,347$2,093,216$285,632$3,391,499
17$6,001,161$2,178,617$297,057$3,525,486
18$6,241,207$2,267,434$308,940$3,664,833
19$6,490,856$2,359,804$321,297$3,809,754
20$6,750,490$2,455,869$334,149$3,960,472
21$7,020,509$2,555,776$347,515$4,117,218
22$7,301,330$2,659,680$361,416$4,280,234
23$7,593,383$2,767,739$375,872$4,449,771
24$7,897,118$2,880,121$390,907$4,626,089
25$8,213,003$2,996,999$406,544$4,809,460
26$8,541,523$3,118,551$422,805$5,000,166
27$8,883,184$3,244,966$439,718$5,198,501
28$9,238,511$3,376,437$457,306$5,404,768
29$9,608,052$3,513,167$475,599$5,619,286
30$9,992,374$3,655,366$494,623$5,842,385
Total$179,700,000$65,234,628$8,895,148$105,570,216

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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.