USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Aug 14, 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 $32,000,000 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, Aug 14, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$17,402$383,089
2$593,386$178,060$18,098$397,228
3$617,121$186,523$18,822$411,776
4$641,806$195,656$19,575$426,575
5$667,478$205,155$20,358$441,965
6$694,177$215,033$21,172$457,972
7$721,944$225,307$22,019$474,618
8$750,822$235,992$22,900$491,930
9$780,855$247,104$23,816$509,935
10$812,089$258,661$24,769$528,660
11$844,573$270,680$25,759$548,134
12$878,356$283,179$26,790$568,387
13$913,490$296,179$27,861$589,450
14$950,030$309,699$28,976$611,355
15$988,031$323,759$30,135$634,137
16$1,027,552$338,382$31,340$657,830
17$1,068,654$353,590$32,594$682,470
18$1,111,400$369,406$33,898$708,097
19$1,155,856$385,855$35,254$734,748
20$1,202,091$402,961$36,664$762,466
21$1,250,174$420,752$38,130$791,292
22$1,300,181$439,255$39,656$821,271
23$1,352,188$458,497$41,242$852,449
24$1,406,276$478,510$42,891$884,875
25$1,462,527$499,323$44,607$918,597
26$1,521,028$520,968$46,391$953,669
27$1,581,869$543,479$48,247$990,143
28$1,645,144$566,891$50,177$1,028,076
29$1,710,950$591,239$52,184$1,067,527
30$1,779,388$616,561$54,271$1,108,555
Total$32,000,000$10,586,728$975,998$20,437,276

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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.