USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Jun 1, 2002

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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 $21,300,000 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 1, 2002
Jackpot:$21,300,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$379,781$103,298$11,583$264,900
2$394,972$108,615$12,047$274,311
3$410,771$114,145$12,529$284,098
4$427,202$119,895$13,030$294,277
5$444,290$125,876$13,551$304,863
6$462,062$132,096$14,093$315,873
7$480,544$138,565$14,657$327,322
8$499,766$145,293$15,243$339,230
9$519,757$152,290$15,853$351,615
10$540,547$159,566$16,487$364,494
11$562,169$167,134$17,146$377,889
12$584,656$175,004$17,832$391,819
13$608,042$183,189$18,545$406,307
14$632,363$192,162$19,287$420,914
15$657,658$201,521$20,059$436,078
16$683,964$211,255$20,861$451,849
17$711,323$221,377$21,695$468,250
18$739,776$231,905$22,563$485,308
19$769,367$242,853$23,466$503,048
20$800,142$254,240$24,404$521,497
21$832,147$266,082$25,380$540,684
22$865,433$278,398$26,396$560,639
23$900,050$291,206$27,452$581,392
24$936,052$304,527$28,550$602,976
25$973,495$318,381$29,692$625,422
26$1,012,434$332,788$30,879$648,767
27$1,052,932$347,772$32,114$673,045
28$1,095,049$363,356$33,399$698,294
29$1,138,851$379,563$34,735$724,553
30$1,184,405$396,418$36,124$751,863
Total$21,300,000$6,658,770$649,652$13,991,577

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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.