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Indiana Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 $60,000,000 for a ticket purchased in Indiana, 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:

Indiana

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 3.23%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$29,170$575,702
2$948,240$314,921$30,628$602,691
3$995,652$332,464$32,160$631,029
4$1,045,435$350,883$33,768$660,784
5$1,097,707$370,224$35,456$692,027
6$1,152,592$390,531$37,229$724,832
7$1,210,222$411,854$39,090$759,277
8$1,270,733$434,243$41,045$795,445
9$1,334,270$457,752$43,097$833,421
10$1,400,983$482,436$45,252$873,295
11$1,471,032$508,354$47,514$915,164
12$1,544,584$535,568$49,890$959,125
13$1,621,813$564,143$52,385$1,005,285
14$1,702,904$594,147$55,004$1,053,753
15$1,788,049$625,650$57,754$1,104,644
16$1,877,451$658,729$60,642$1,158,080
17$1,971,324$693,462$63,674$1,214,188
18$2,069,890$729,932$66,857$1,273,101
19$2,173,384$768,224$70,200$1,334,960
20$2,282,054$808,432$73,710$1,399,911
21$2,396,156$850,650$77,396$1,468,110
22$2,515,964$894,979$81,266$1,539,719
23$2,641,762$941,524$85,329$1,614,909
24$2,773,850$990,397$89,595$1,693,858
25$2,912,543$1,041,713$94,075$1,776,755
26$3,058,170$1,095,595$98,779$1,863,796
27$3,211,079$1,152,171$103,718$1,955,189
28$3,371,633$1,211,576$108,904$2,051,152
29$3,540,214$1,273,951$114,349$2,151,914
30$3,717,225$1,339,445$120,066$2,257,713
Total$60,000,000$21,122,164$1,938,002$36,939,829

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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.