USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Nov 21, 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 $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 prize money, as well as deductions claimed.

State:

Indiana

Drawing Date:Mon, Nov 21, 2022
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,113$9,482$212,433
2$316,080$84,381$9,957$221,743
3$331,884$89,912$10,454$231,517
4$348,478$95,720$10,977$241,781
5$365,902$101,819$11,526$252,558
6$384,197$108,222$12,102$263,873
7$403,407$114,946$12,707$275,754
8$423,578$122,005$13,343$288,230
9$444,757$129,418$14,010$301,329
10$466,994$137,201$14,710$315,083
11$490,344$145,373$15,446$329,525
12$514,861$153,954$16,218$344,689
13$540,604$162,979$17,029$360,597
14$567,635$172,980$17,880$376,774
15$596,016$183,481$18,775$393,761
16$625,817$194,507$19,713$411,597
17$657,108$206,085$20,699$430,324
18$689,963$218,241$21,734$449,988
19$724,461$231,006$22,821$470,635
20$760,685$244,408$23,962$492,315
21$798,719$258,481$25,160$515,078
22$838,655$273,257$26,418$538,980
23$880,587$288,772$27,739$564,077
24$924,617$305,063$29,125$590,428
25$970,848$322,169$30,582$618,097
26$1,019,390$340,129$32,111$647,150
27$1,070,360$358,988$33,716$677,655
28$1,123,878$378,790$35,402$709,686
29$1,180,071$399,581$37,172$743,318
30$1,239,075$421,413$39,031$778,631
Total$20,000,000$6,322,394$630,001$13,047,606

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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.