USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Jul 17, 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 $35,000,000 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:Wed, Jul 17, 2002
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$624,053$189,088$19,034$415,932
2$649,016$198,324$19,795$430,897
3$674,976$207,929$20,587$446,461
4$701,975$217,919$21,410$462,646
5$730,054$228,308$22,267$479,480
6$759,256$239,113$23,157$496,987
7$789,627$250,350$24,084$515,193
8$821,212$262,036$25,047$534,129
9$854,060$274,190$26,049$553,821
10$888,223$286,830$27,091$574,302
11$923,752$299,976$28,174$595,601
12$960,702$313,647$29,301$617,753
13$999,130$327,866$30,473$640,791
14$1,039,095$342,653$31,692$664,750
15$1,080,659$358,031$32,960$689,667
16$1,123,885$374,025$34,278$715,581
17$1,168,840$390,659$35,650$742,532
18$1,215,594$407,958$37,076$770,561
19$1,264,218$425,948$38,559$799,711
20$1,314,787$444,659$40,101$830,027
21$1,367,378$464,118$41,705$861,555
22$1,422,073$484,355$43,373$894,345
23$1,478,956$505,401$45,108$928,446
24$1,538,114$527,290$46,912$963,912
25$1,599,639$550,054$48,789$1,000,796
26$1,663,624$573,729$50,741$1,039,155
27$1,730,169$598,350$52,770$1,079,049
28$1,799,376$623,957$54,881$1,120,538
29$1,871,351$650,588$57,076$1,163,687
30$1,946,205$678,284$59,359$1,208,562
Total$35,000,000$11,695,635$1,067,499$22,236,867

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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.