USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $62,400,000 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, Aug 31, 2002
Jackpot:$62,400,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,112,598$369,849$33,934$708,815
2$1,157,102$386,316$35,292$735,495
3$1,203,386$403,441$36,703$763,242
4$1,251,522$421,251$38,171$792,099
5$1,301,583$439,773$39,698$822,111
6$1,353,646$459,037$41,286$853,323
7$1,407,792$479,071$42,938$885,783
8$1,464,103$499,906$44,655$919,542
9$1,522,667$521,575$46,441$954,651
10$1,583,574$544,110$48,299$991,165
11$1,646,917$567,547$50,231$1,029,139
12$1,712,794$591,921$52,240$1,068,632
13$1,781,306$617,271$54,330$1,109,705
14$1,852,558$643,634$56,503$1,152,421
15$1,926,660$671,052$58,763$1,196,845
16$2,003,726$699,567$61,114$1,243,046
17$2,083,876$729,222$63,558$1,291,096
18$2,167,231$760,063$66,101$1,341,067
19$2,253,920$792,138$68,745$1,393,037
20$2,344,077$825,496$71,494$1,447,086
21$2,437,840$860,188$74,354$1,503,297
22$2,535,353$896,268$77,328$1,561,757
23$2,636,767$933,792$80,421$1,622,554
24$2,742,238$972,816$83,638$1,685,784
25$2,851,928$1,013,401$86,984$1,751,543
26$2,966,005$1,055,609$90,463$1,819,932
27$3,084,645$1,099,506$94,082$1,891,057
28$3,208,031$1,145,159$97,845$1,965,027
29$3,336,352$1,192,638$101,759$2,041,955
30$3,469,806$1,242,016$105,829$2,121,961
Total$62,400,000$21,833,633$1,903,199$38,663,167

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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.