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Indiana Powerball Jackpot Annuity Payout Schedule for Jul 23, 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 $93,600,000 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, Jul 23, 2011
Jackpot:$93,600,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,668,897$575,680$50,901$1,042,316
2$1,735,653$600,379$52,937$1,082,336
3$1,805,079$626,067$55,055$1,123,957
4$1,877,282$652,782$57,257$1,167,243
5$1,952,374$680,566$59,547$1,212,260
6$2,030,469$709,461$61,929$1,259,078
7$2,111,687$739,512$64,406$1,307,769
8$2,196,155$770,765$66,983$1,358,407
9$2,284,001$803,268$69,662$1,411,071
10$2,375,361$837,071$72,449$1,465,841
11$2,470,376$872,227$75,346$1,522,802
12$2,569,191$908,788$78,360$1,582,042
13$2,671,958$946,812$81,495$1,643,651
14$2,778,837$986,357$84,755$1,707,725
15$2,889,990$1,027,484$88,145$1,774,361
16$3,005,590$1,070,256$91,670$1,843,663
17$3,125,813$1,114,739$95,337$1,915,737
18$3,250,846$1,161,001$99,151$1,990,694
19$3,380,880$1,209,113$103,117$2,068,650
20$3,516,115$1,259,150$107,242$2,149,723
21$3,656,759$1,311,189$111,531$2,234,040
22$3,803,030$1,365,309$115,992$2,321,729
23$3,955,151$1,421,594$120,632$2,412,925
24$4,113,357$1,480,130$125,457$2,507,770
25$4,277,891$1,541,008$130,476$2,606,408
26$4,449,007$1,604,320$135,695$2,708,992
27$4,626,967$1,670,166$141,123$2,815,679
28$4,812,046$1,738,645$146,767$2,926,634
29$5,004,528$1,809,863$152,638$3,042,027
30$5,204,709$1,883,930$158,744$3,162,035
Total$93,600,000$33,377,632$2,854,799$57,367,565

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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.