USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Dec 3, 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 $42,200,000 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 3, 2011
Jackpot:$42,200,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,430$236,587$22,949$492,894
2$782,527$247,723$23,867$510,937
3$813,828$259,304$24,822$529,702
4$846,382$271,349$25,815$549,218
5$880,237$283,875$26,847$569,514
6$915,446$296,903$27,921$590,622
7$952,064$310,452$29,038$612,575
8$990,147$324,542$30,199$635,405
9$1,029,753$339,196$31,407$659,149
10$1,070,943$354,437$32,664$683,842
11$1,113,780$370,287$33,970$709,524
12$1,158,332$386,770$35,329$736,232
13$1,204,665$403,914$36,742$764,009
14$1,252,852$421,743$38,212$792,897
15$1,302,966$440,285$39,740$822,940
16$1,355,084$459,569$41,330$854,185
17$1,409,288$479,624$42,983$886,680
18$1,465,659$500,482$44,703$920,475
19$1,524,285$522,173$46,491$955,621
20$1,585,257$544,733$48,350$992,174
21$1,648,667$568,195$50,284$1,030,188
22$1,714,614$592,595$52,296$1,069,723
23$1,783,198$617,971$54,388$1,110,840
24$1,854,526$644,363$56,563$1,153,601
25$1,928,707$671,809$58,826$1,198,072
26$2,005,856$700,354$61,179$1,244,323
27$2,086,090$730,041$63,626$1,292,423
28$2,169,534$760,915$66,171$1,342,448
29$2,256,315$793,024$68,818$1,394,473
30$2,346,567$826,418$71,570$1,448,579
Total$42,200,000$14,359,633$1,287,100$26,553,265

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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.