USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Nov 30, 2011

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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 $30,000,000 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, Nov 30, 2011
Jackpot:$30,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$157,591$16,315$360,998
2$556,299$165,079$16,967$374,253
3$578,551$172,868$17,646$388,038
4$601,693$180,967$18,352$402,374
5$625,761$189,719$19,086$416,956
6$650,791$198,981$19,849$431,962
7$676,823$208,612$20,643$447,568
8$703,896$218,629$21,469$463,798
9$732,052$229,047$22,328$480,677
10$761,334$239,881$23,221$498,232
11$791,787$251,149$24,150$516,489
12$823,459$262,867$25,115$535,476
13$856,397$275,055$26,120$555,222
14$890,653$287,729$27,165$575,759
15$926,279$300,911$28,252$597,116
16$963,330$314,620$29,382$619,329
17$1,001,863$328,877$30,557$642,429
18$1,041,938$343,705$31,779$666,454
19$1,083,615$359,125$33,050$691,440
20$1,126,960$375,163$34,372$717,425
21$1,172,038$391,842$35,747$744,449
22$1,218,920$409,188$37,177$772,555
23$1,267,677$427,228$38,664$801,784
24$1,318,384$445,990$40,211$832,183
25$1,371,119$465,502$41,819$863,798
26$1,425,964$485,794$43,492$896,678
27$1,483,002$506,899$45,232$930,872
28$1,542,322$528,847$47,041$966,435
29$1,604,015$551,673$48,922$1,003,419
30$1,668,176$575,413$50,879$1,041,884
Total$30,000,000$9,848,951$915,002$19,236,052

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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.