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Illinois Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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The tax information provided here is based on 2021 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 $285,600,000 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 prize money, as well as deductions claimed.

State:

Illinois

Drawing Date:Sat, Jun 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$212,785$2,531,317
2$4,513,624$1,634,113$223,424$2,656,087
3$4,739,306$1,717,615$234,596$2,787,095
4$4,976,271$1,805,293$246,325$2,924,653
5$5,225,084$1,897,353$258,642$3,069,089
6$5,486,339$1,994,018$271,574$3,220,747
7$5,760,656$2,095,515$285,152$3,379,988
8$6,048,688$2,202,087$299,410$3,547,191
9$6,351,123$2,313,988$314,381$3,722,755
10$6,668,679$2,431,483$330,100$3,907,096
11$7,002,113$2,554,854$346,605$4,100,654
12$7,352,219$2,684,393$363,935$4,303,891
13$7,719,829$2,820,409$382,132$4,517,289
14$8,105,821$2,963,226$401,238$4,741,357
15$8,511,112$3,113,184$421,300$4,976,628
16$8,936,668$3,270,639$442,365$5,223,663
17$9,383,501$3,435,968$464,483$5,483,050
18$9,852,676$3,609,562$487,707$5,755,406
19$10,345,310$3,791,837$512,093$6,041,380
20$10,862,575$3,983,225$537,697$6,341,653
21$11,405,704$4,184,183$564,582$6,656,939
22$11,975,989$4,395,188$592,811$6,987,989
23$12,574,789$4,616,744$622,452$7,335,593
24$13,203,528$4,849,378$653,575$7,700,576
25$13,863,704$5,093,643$686,253$8,083,808
26$14,556,890$5,350,121$720,566$8,486,202
27$15,284,734$5,619,424$756,594$8,908,716
28$16,048,971$5,902,191$794,424$9,352,355
29$16,851,419$6,199,097$834,145$9,818,177
30$17,693,990$6,510,849$875,853$10,307,289
Total$285,600,001$104,594,167$14,137,199$166,868,633

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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.