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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 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 $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 prize 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$1,555,698$213,083$2,535,929
2$4,519,946$1,635,335$223,737$2,660,874
3$4,745,943$1,718,954$234,924$2,792,065
4$4,983,241$1,806,754$246,670$2,929,816
5$5,232,402$1,898,944$259,004$3,074,455
6$5,494,023$1,995,743$271,954$3,226,325
7$5,768,724$2,097,383$285,552$3,385,789
8$6,057,160$2,204,104$299,829$3,553,226
9$6,360,018$2,316,162$314,821$3,729,035
10$6,678,019$2,433,822$330,562$3,913,635
11$7,011,920$2,557,365$347,090$4,107,464
12$7,362,516$2,687,086$364,445$4,310,985
13$7,730,641$2,823,292$382,667$4,524,682
14$8,117,174$2,966,309$401,800$4,749,064
15$8,523,032$3,116,477$421,890$4,984,665
16$8,949,184$3,274,153$442,985$5,232,046
17$9,396,643$3,439,713$465,134$5,491,796
18$9,866,475$3,613,551$488,391$5,764,534
19$10,359,799$3,796,081$512,810$6,050,908
20$10,877,789$3,987,737$538,451$6,351,601
21$11,421,678$4,188,976$565,373$6,667,329
22$11,992,762$4,400,277$593,642$6,998,843
23$12,592,400$4,622,143$623,324$7,346,933
24$13,222,020$4,855,102$654,490$7,712,428
25$13,883,121$5,099,710$687,215$8,096,197
26$14,577,278$5,356,548$721,575$8,499,155
27$15,306,141$5,626,227$757,654$8,922,260
28$16,071,448$5,909,391$795,537$9,366,521
29$16,875,021$6,206,713$835,314$9,832,995
30$17,718,772$6,518,901$877,079$10,322,792
Total$286,000,001$104,708,651$14,157,002$167,134,347

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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.