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Illinois Powerball Jackpot Annuity Payout Schedule for Sep 26, 2022

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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 $286,000,000 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:Mon, Sep 26, 2022
Jackpot:$286,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,304,710$1,550,931$213,083$2,540,697
2$4,519,946$1,630,568$223,737$2,665,641
3$4,745,943$1,714,187$234,924$2,796,832
4$4,983,241$1,801,987$246,670$2,934,583
5$5,232,402$1,894,177$259,004$3,079,222
6$5,494,023$1,990,976$271,954$3,231,092
7$5,768,724$2,092,616$285,552$3,390,556
8$6,057,160$2,199,337$299,829$3,557,994
9$6,360,018$2,311,394$314,821$3,733,803
10$6,678,019$2,429,055$330,562$3,918,402
11$7,011,920$2,552,598$347,090$4,112,232
12$7,362,516$2,682,319$364,445$4,315,753
13$7,730,641$2,818,525$382,667$4,529,450
14$8,117,174$2,961,542$401,800$4,753,832
15$8,523,032$3,111,710$421,890$4,989,432
16$8,949,184$3,269,386$442,985$5,236,814
17$9,396,643$3,434,946$465,134$5,496,563
18$9,866,475$3,608,784$488,391$5,769,301
19$10,359,799$3,791,313$512,810$6,055,675
20$10,877,789$3,982,970$538,451$6,356,369
21$11,421,678$4,184,209$565,373$6,672,096
22$11,992,762$4,395,510$593,642$7,003,611
23$12,592,400$4,617,376$623,324$7,351,701
24$13,222,020$4,850,335$654,490$7,717,195
25$13,883,121$5,094,943$687,215$8,100,964
26$14,577,278$5,351,780$721,575$8,503,922
27$15,306,141$5,621,460$757,654$8,927,027
28$16,071,448$5,904,624$795,537$9,371,288
29$16,875,021$6,201,945$835,314$9,837,762
30$17,718,772$6,514,133$877,079$10,327,559
Total$286,000,001$104,565,636$14,157,002$167,277,368

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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.