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Indiana Powerball Jackpot Annuity Payout Schedule for Dec 20, 2008

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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 $54,700,000 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, Dec 20, 2008
Jackpot:$54,700,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$975,306$319,051$29,747$626,508
2$1,014,319$333,486$30,937$649,896
3$1,054,891$348,498$32,174$674,220
4$1,097,087$364,110$33,461$699,516
5$1,140,971$380,347$34,800$725,824
6$1,186,609$397,233$36,192$753,185
7$1,234,074$414,795$37,639$781,639
8$1,283,437$433,059$39,145$811,233
9$1,334,774$452,054$40,711$842,009
10$1,388,165$471,809$42,339$874,017
11$1,443,692$492,354$44,033$907,305
12$1,501,439$513,720$45,794$941,925
13$1,561,497$535,942$47,626$977,930
14$1,623,957$559,052$49,531$1,015,374
15$1,688,915$583,086$51,512$1,054,317
16$1,756,472$608,082$53,572$1,094,817
17$1,826,731$634,078$55,715$1,136,937
18$1,899,800$661,114$57,944$1,180,742
19$1,975,792$689,231$60,262$1,226,299
20$2,054,824$718,472$62,672$1,273,679
21$2,137,016$748,884$65,179$1,322,954
22$2,222,497$780,512$67,786$1,374,199
23$2,311,397$813,405$70,498$1,427,495
24$2,403,853$847,613$73,318$1,482,922
25$2,500,007$883,190$76,250$1,540,566
26$2,600,007$920,190$79,300$1,600,517
27$2,704,008$958,671$82,472$1,662,865
28$2,812,168$998,690$85,771$1,727,707
29$2,924,655$1,040,310$89,202$1,795,143
30$3,041,641$1,083,595$92,770$1,865,276
Total$54,700,000$18,984,633$1,668,352$34,047,016

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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.