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Indiana Powerball Jackpot Annuity Payout Schedule for Jan 30, 2023

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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 $613,000,000 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:Mon, Jan 30, 2023
Jackpot:$613,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,226,530$3,376,771$290,636$5,559,123
2$9,687,856$3,547,462$305,167$5,835,227
3$10,172,249$3,726,687$320,426$6,125,136
4$10,680,862$3,914,874$336,447$6,429,541
5$11,214,904$4,112,470$353,269$6,749,165
6$11,775,650$4,319,945$370,933$7,084,771
7$12,364,433$4,537,795$389,480$7,437,158
8$12,982,654$4,766,537$408,954$7,807,163
9$13,631,787$5,006,716$429,401$8,195,669
10$14,313,376$5,258,904$450,871$8,603,600
11$15,029,045$5,523,702$473,415$9,031,928
12$15,780,497$5,801,739$497,086$9,481,672
13$16,569,522$6,093,678$521,940$9,953,904
14$17,397,998$6,400,214$548,037$10,449,747
15$18,267,898$6,722,077$575,439$10,970,382
16$19,181,293$7,060,033$604,211$11,517,049
17$20,140,357$7,414,887$634,421$12,091,049
18$21,147,375$7,787,484$666,142$12,693,749
19$22,204,744$8,178,710$699,449$13,326,584
20$23,314,981$8,589,498$734,422$13,991,061
21$24,480,730$9,020,825$771,143$14,688,762
22$25,704,767$9,473,719$809,700$15,421,348
23$26,990,005$9,949,257$850,185$16,190,563
24$28,339,505$10,448,572$892,694$16,998,239
25$29,756,480$10,972,853$937,329$17,846,298
26$31,244,305$11,523,348$984,196$18,736,761
27$32,806,520$12,101,367$1,033,405$19,671,747
28$34,446,845$12,708,288$1,085,076$20,653,482
29$36,169,188$13,345,554$1,139,329$21,684,304
30$37,977,648$14,014,685$1,196,296$22,766,667
Total$613,000,001$225,698,651$19,309,499$367,991,849

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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.