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Illinois Powerball Jackpot Annuity Payout Schedule for Nov 6, 2023

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The tax information provided here is based on 2025 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 $181,900,000 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:Mon, Nov 6, 2023
Jackpot:$181,900,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,737,856$970,027$135,524$1,632,305
2$2,874,749$1,020,677$142,300$1,711,771
3$3,018,486$1,073,860$149,415$1,795,211
4$3,169,411$1,129,702$156,886$1,882,823
5$3,327,881$1,188,336$164,730$1,974,815
6$3,494,275$1,249,902$172,967$2,071,406
7$3,668,989$1,314,546$181,615$2,172,828
8$3,852,438$1,382,422$190,696$2,279,320
9$4,045,060$1,453,693$200,230$2,391,137
10$4,247,313$1,528,526$210,242$2,508,545
11$4,459,679$1,607,101$220,754$2,631,823
12$4,682,663$1,689,606$231,792$2,761,266
13$4,916,796$1,776,235$243,381$2,897,180
14$5,162,636$1,867,196$255,550$3,039,890
15$5,420,768$1,962,704$268,328$3,189,735
16$5,691,806$2,062,989$281,744$3,347,073
17$5,976,396$2,168,287$295,832$3,512,278
18$6,275,216$2,278,850$310,623$3,685,743
19$6,588,977$2,394,942$326,154$3,867,881
20$6,918,426$2,516,838$342,462$4,059,126
21$7,264,347$2,644,829$359,585$4,259,933
22$7,627,564$2,779,219$377,564$4,470,781
23$8,008,943$2,920,329$396,443$4,692,171
24$8,409,390$3,068,494$416,265$4,924,631
25$8,829,859$3,224,068$437,078$5,168,713
26$9,271,352$3,387,421$458,932$5,425,000
27$9,734,920$3,558,941$481,879$5,694,101
28$10,221,666$3,739,037$505,972$5,976,657
29$10,732,749$3,928,137$531,271$6,273,341
30$11,269,387$4,126,693$557,835$6,584,859
Total$181,900,000$66,013,607$9,004,049$106,882,343

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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.