USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Jun 21, 1997

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The tax information provided here is based on 2024 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 $5,000,000 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 money, as well as deductions claimed.

State:

Indiana

Drawing Date:Sat, Jun 21, 1997
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$89,150$14,666$2,719$71,765
2$92,717$15,451$2,828$74,438
3$96,425$16,267$2,941$77,218
4$100,282$17,115$3,059$80,108
5$104,293$18,073$3,181$83,040
6$108,465$19,074$3,308$86,083
7$112,804$20,115$3,441$89,248
8$117,316$21,198$3,578$92,540
9$122,009$22,325$3,721$95,963
10$126,889$23,496$3,870$99,523
11$131,965$24,714$4,025$103,226
12$137,243$25,981$4,186$107,076
13$142,733$27,298$4,353$111,081
14$148,442$28,669$4,527$115,246
15$154,380$30,094$4,709$119,578
16$160,555$31,576$4,897$124,082
17$166,977$33,117$5,093$128,767
18$173,656$34,720$5,297$133,640
19$180,603$36,387$5,508$138,707
20$187,827$38,121$5,729$143,977
21$195,340$40,195$5,958$149,187
22$203,153$42,696$6,196$154,262
23$211,279$45,296$6,444$159,539
24$219,731$48,000$6,702$165,029
25$228,520$50,813$6,970$170,737
26$237,661$53,738$7,249$176,674
27$247,167$56,883$7,539$182,745
28$257,054$60,344$7,840$188,870
29$267,336$63,942$8,154$195,240
30$278,029$67,685$8,480$201,864
Total$5,000,000$1,028,049$152,502$3,819,453

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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.