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Illinois Powerball Jackpot Annuity Payout Schedule for Jan 1, 2025

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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 $181,100,000 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:Wed, Jan 1, 2025
Jackpot:$181,100,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,725,815$965,572$134,928$1,625,315
2$2,862,106$1,015,999$141,674$1,704,432
3$3,005,211$1,068,948$148,758$1,787,505
4$3,155,472$1,124,545$156,196$1,874,731
5$3,313,245$1,182,921$164,006$1,966,318
6$3,478,907$1,244,216$172,206$2,062,485
7$3,652,853$1,308,576$180,816$2,163,461
8$3,835,495$1,376,154$189,857$2,269,485
9$4,027,270$1,447,110$199,350$2,380,810
10$4,228,634$1,521,615$209,317$2,497,702
11$4,440,065$1,599,844$219,783$2,620,438
12$4,662,069$1,681,986$230,772$2,749,311
13$4,895,172$1,768,234$242,311$2,884,627
14$5,139,931$1,858,795$254,427$3,026,709
15$5,396,927$1,953,883$267,148$3,175,896
16$5,666,773$2,053,726$280,505$3,332,542
17$5,950,112$2,158,562$294,531$3,497,020
18$6,247,618$2,268,639$309,257$3,669,722
19$6,559,999$2,384,220$324,720$3,851,059
20$6,887,999$2,505,580$340,956$4,041,463
21$7,232,398$2,633,008$358,004$4,241,387
22$7,594,018$2,766,807$375,904$4,451,307
23$7,973,719$2,907,296$394,699$4,671,724
24$8,372,405$3,054,810$414,434$4,903,161
25$8,791,025$3,209,700$435,156$5,146,170
26$9,230,577$3,372,334$456,914$5,401,330
27$9,692,106$3,543,099$479,759$5,669,247
28$10,176,711$3,722,403$503,747$5,950,560
29$10,685,546$3,910,672$528,935$6,245,939
30$11,219,824$4,108,355$555,381$6,556,087
Total$181,100,000$65,717,609$8,964,451$106,417,943

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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.