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Indiana Powerball Jackpot Annuity Payout Schedule for Jan 11, 2012

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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 $54,400,000 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, Jan 11, 2012
Jackpot:$54,400,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$969,957$317,072$29,584$623,302
2$1,008,756$331,427$30,767$646,561
3$1,049,106$346,357$31,998$670,751
4$1,091,070$361,884$33,278$695,909
5$1,134,713$378,032$34,609$722,073
6$1,180,101$394,825$35,993$749,283
7$1,227,306$412,291$37,433$777,582
8$1,276,398$430,455$38,930$807,013
9$1,327,454$449,346$40,487$837,621
10$1,380,552$468,992$42,107$869,453
11$1,435,774$489,424$43,791$902,559
12$1,493,205$510,674$45,543$936,989
13$1,552,933$532,773$47,364$972,796
14$1,615,050$555,756$49,259$1,010,035
15$1,679,652$579,659$51,229$1,048,764
16$1,746,838$604,518$53,279$1,089,042
17$1,816,712$630,371$55,410$1,130,931
18$1,889,380$657,259$57,626$1,174,496
19$1,964,956$685,221$59,931$1,219,803
20$2,043,554$714,303$62,328$1,266,923
21$2,125,296$744,547$64,822$1,315,927
22$2,210,308$776,002$67,414$1,366,892
23$2,298,720$808,714$70,111$1,419,895
24$2,390,669$842,735$72,915$1,475,018
25$2,486,296$878,117$75,832$1,532,347
26$2,585,748$914,914$78,865$1,591,968
27$2,689,178$953,183$82,020$1,653,974
28$2,796,745$992,983$85,301$1,718,461
29$2,908,614$1,034,375$88,713$1,785,527
30$3,024,959$1,077,423$92,261$1,855,275
Total$54,400,000$18,873,632$1,659,200$33,867,170

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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.