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Illinois Powerball Jackpot Annuity Payout Schedule for Dec 3, 2022

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The tax information provided here is based on 2022 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 $79,900,000 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:Sat, Dec 3, 2022
Jackpot:$79,900,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,202,610$407,921$59,529$735,160
2$1,262,740$430,169$62,506$770,066
3$1,325,877$453,530$65,631$806,717
4$1,392,171$478,058$68,912$845,200
5$1,461,780$503,813$72,358$885,608
6$1,534,869$530,856$75,976$928,036
7$1,611,612$559,251$79,775$972,586
8$1,692,193$589,066$83,764$1,019,363
9$1,776,802$620,372$87,952$1,068,479
10$1,865,642$653,243$92,349$1,120,050
11$1,958,924$687,757$96,967$1,174,201
12$2,056,871$723,997$101,815$1,231,058
13$2,159,714$762,049$106,906$1,290,759
14$2,267,700$802,004$112,251$1,353,445
15$2,381,085$843,956$117,864$1,419,265
16$2,500,139$888,006$123,757$1,488,376
17$2,625,146$934,259$129,945$1,560,942
18$2,756,403$982,824$136,442$1,637,137
19$2,894,224$1,033,818$143,264$1,717,142
20$3,038,935$1,087,361$150,427$1,801,147
21$3,190,881$1,143,581$157,949$1,889,352
22$3,350,426$1,202,612$165,846$1,981,967
23$3,517,947$1,264,595$174,138$2,079,213
24$3,693,844$1,329,677$182,845$2,181,322
25$3,878,536$1,398,013$191,988$2,288,535
26$4,072,463$1,469,766$201,587$2,401,110
27$4,276,086$1,545,107$211,666$2,519,313
28$4,489,891$1,624,215$222,250$2,643,427
29$4,714,385$1,707,278$233,362$2,773,746
30$4,950,104$1,794,494$245,030$2,910,581
Total$79,900,000$28,451,648$3,955,051$47,493,303

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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.