USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Jan 23, 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 $20,000,000 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, Jan 23, 2021
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 3.23%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$9,723$211,401
2$316,080$85,172$10,209$220,698
3$331,884$90,704$10,720$230,461
4$348,478$96,512$11,256$240,711
5$365,902$102,610$11,819$251,474
6$384,197$109,013$12,410$262,774
7$403,407$115,737$13,030$274,640
8$423,578$122,796$13,682$287,100
9$444,757$130,209$14,366$300,182
10$466,994$137,992$15,084$313,918
11$490,344$146,165$15,838$328,341
12$514,861$154,746$16,630$343,486
13$540,604$164,096$17,462$359,047
14$567,635$174,097$18,335$375,203
15$596,016$184,598$19,251$392,167
16$625,817$195,625$20,214$409,979
17$657,108$207,202$21,225$428,681
18$689,963$219,359$22,286$448,319
19$724,461$232,123$23,400$468,938
20$760,685$245,526$24,570$490,589
21$798,719$259,598$25,799$513,322
22$838,655$274,374$27,089$537,192
23$880,587$289,890$28,443$562,255
24$924,617$306,180$29,865$588,571
25$970,848$323,286$31,358$616,203
26$1,019,390$341,247$32,926$645,217
27$1,070,360$360,105$34,573$675,682
28$1,123,878$379,907$36,301$707,669
29$1,180,071$400,699$38,116$741,256
30$1,239,075$422,530$40,022$776,523
Total$20,000,000$6,352,002$646,002$13,001,999

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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.