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Indiana Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$28,875$609,380
2$994,072$325,994$30,319$637,758
3$1,043,776$344,385$31,835$667,556
4$1,095,964$363,695$33,427$698,843
5$1,150,763$383,970$35,098$731,694
6$1,208,301$405,259$36,853$766,189
7$1,268,716$427,613$38,696$802,407
8$1,332,152$451,084$40,631$840,437
9$1,398,759$475,729$42,662$880,368
10$1,468,697$501,606$44,795$922,296
11$1,542,132$528,777$47,035$966,320
12$1,619,239$557,306$49,387$1,012,546
13$1,700,201$587,262$51,856$1,061,082
14$1,785,211$618,716$54,449$1,112,046
15$1,874,471$651,742$57,171$1,165,558
16$1,968,195$686,420$60,030$1,221,745
17$2,066,604$722,831$63,031$1,280,742
18$2,169,935$761,064$66,183$1,342,688
19$2,278,431$801,207$69,492$1,407,732
20$2,392,353$843,358$72,967$1,476,028
21$2,511,971$887,617$76,615$1,547,739
22$2,637,569$934,088$80,446$1,623,035
23$2,769,447$982,883$84,468$1,702,096
24$2,907,920$1,034,118$88,692$1,785,110
25$3,053,316$1,087,915$93,126$1,872,275
26$3,205,982$1,144,401$97,782$1,963,798
27$3,366,281$1,203,712$102,672$2,059,898
28$3,534,595$1,265,988$107,805$2,160,802
29$3,711,324$1,331,378$113,195$2,266,751
30$3,896,891$1,400,037$118,855$2,377,998
Total$62,900,000$22,018,635$1,918,448$38,962,917

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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.