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Indiana Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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 prize money, as well as deductions claimed.

State:

Indiana

Drawing Date:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 3.23%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$307,546$5,728,068
2$9,997,615$3,662,072$322,923$6,012,619
3$10,497,495$3,847,028$339,069$6,311,398
4$11,022,371$4,041,232$356,023$6,625,116
5$11,573,488$4,245,146$373,824$6,954,519
6$12,152,163$4,459,255$392,515$7,300,393
7$12,759,772$4,684,071$412,141$7,663,561
8$13,397,760$4,920,126$432,748$8,044,886
9$14,067,648$5,167,985$454,385$8,445,278
10$14,771,030$5,428,236$477,104$8,865,690
11$15,509,582$5,701,500$500,959$9,307,122
12$16,285,061$5,988,428$526,007$9,770,626
13$17,099,314$6,289,701$552,308$10,257,305
14$17,954,280$6,606,039$579,923$10,768,318
15$18,851,994$6,938,193$608,919$11,304,882
16$19,794,594$7,286,955$639,365$11,868,274
17$20,784,323$7,653,154$671,334$12,459,835
18$21,823,539$8,037,664$704,900$13,080,974
19$22,914,716$8,441,400$740,145$13,733,171
20$24,060,452$8,865,322$777,153$14,417,977
21$25,263,474$9,310,441$816,010$15,137,024
22$26,526,648$9,777,815$856,811$15,892,023
23$27,852,981$10,268,558$899,651$16,684,772
24$29,245,629$10,783,838$944,634$17,517,158
25$30,707,911$11,324,882$991,866$18,391,163
26$32,243,307$11,892,979$1,041,459$19,308,870
27$33,855,472$12,489,480$1,093,532$20,272,461
28$35,548,245$13,115,806$1,148,208$21,284,231
29$37,325,658$13,773,448$1,205,619$22,346,591
30$39,191,941$14,463,973$1,265,900$23,462,068
Total$632,600,001$232,950,651$20,432,981$379,216,373

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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.