USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Mar 2, 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 $20,000,000 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, Mar 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$10,876$250,540
2$370,866$100,178$11,311$259,377
3$385,701$105,370$11,764$268,567
4$401,129$110,770$12,234$278,124
5$417,174$116,386$12,724$288,064
6$433,861$122,226$13,233$298,402
7$451,215$128,300$13,762$309,153
8$469,264$134,617$14,313$320,334
9$488,034$141,187$14,885$331,963
10$507,556$148,019$15,480$344,056
11$527,858$155,125$16,100$356,633
12$548,972$162,515$16,744$369,714
13$570,931$170,201$17,413$383,317
14$593,769$178,194$18,110$397,465
15$617,519$186,670$18,834$412,015
16$642,220$195,809$19,588$426,823
17$667,909$205,314$20,371$442,224
18$694,625$215,199$21,186$458,240
19$722,410$225,480$22,034$474,897
20$751,307$236,171$22,915$492,221
21$781,359$247,291$23,831$510,237
22$812,613$258,855$24,785$528,974
23$845,118$270,881$25,776$548,460
24$878,922$283,389$26,807$568,726
25$914,079$296,397$27,879$589,803
26$950,643$309,925$28,995$611,722
27$988,668$323,995$30,154$634,519
28$1,028,215$338,627$31,361$658,227
29$1,069,344$353,845$32,615$682,884
30$1,112,117$369,671$33,920$708,527
Total$20,000,000$6,185,792$610,000$13,204,208

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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.