USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Jul 16, 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 $19,800,000 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:Wed, Jul 16, 1997
Jackpot:$19,800,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$353,036$93,937$10,768$248,331
2$367,157$98,880$11,198$257,079
3$381,844$104,020$11,646$266,177
4$397,117$109,366$12,112$275,640
5$413,002$114,926$12,597$285,480
6$429,522$120,708$13,100$295,714
7$446,703$126,721$13,624$306,358
8$464,571$132,975$14,169$317,427
9$483,154$139,479$14,736$328,939
10$502,480$146,243$15,326$340,912
11$522,579$153,278$15,939$353,363
12$543,483$160,594$16,576$366,313
13$565,222$168,202$17,239$379,780
14$587,831$176,116$17,929$393,786
15$611,344$184,385$18,646$408,313
16$635,798$193,433$19,392$422,973
17$661,230$202,843$20,168$438,219
18$687,679$212,629$20,974$454,076
19$715,186$222,807$21,813$470,566
20$743,794$233,391$22,686$487,716
21$773,545$244,399$23,593$505,553
22$804,487$255,848$24,537$524,102
23$836,667$267,754$25,518$543,394
24$870,133$280,137$26,539$563,457
25$904,939$293,015$27,601$584,323
26$941,136$306,408$28,705$606,023
27$978,782$320,337$29,853$628,592
28$1,017,933$334,823$31,047$652,063
29$1,058,650$349,888$32,289$676,473
30$1,100,996$365,556$33,580$701,859
Total$19,800,000$6,113,098$603,900$13,083,001

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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.