USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$15,267$326,007
2$508,889$151,864$16,030$340,995
3$534,333$160,770$16,832$356,732
4$561,050$170,544$17,673$372,834
5$589,103$180,923$18,557$389,623
6$618,558$191,821$19,485$407,252
7$649,486$203,265$20,459$425,762
8$681,960$215,280$21,482$445,198
9$716,058$227,896$22,556$465,606
10$751,861$241,144$23,684$487,034
11$789,454$255,053$24,868$509,533
12$828,927$269,658$26,111$533,158
13$870,373$284,993$27,417$557,963
14$913,892$301,095$28,788$584,009
15$959,586$318,002$30,227$611,357
16$1,007,565$335,754$31,738$640,073
17$1,057,944$354,394$33,325$670,224
18$1,110,841$373,966$34,991$701,883
19$1,166,383$394,517$36,741$735,125
20$1,224,702$416,095$38,578$770,029
21$1,285,937$438,752$40,507$806,678
22$1,350,234$462,542$42,532$845,160
23$1,417,746$487,521$44,659$885,566
24$1,488,633$513,749$46,892$927,992
25$1,563,065$541,289$49,237$972,539
26$1,641,218$570,206$51,698$1,019,314
27$1,723,279$600,568$54,283$1,068,427
28$1,809,443$632,449$56,997$1,119,997
29$1,899,915$665,924$59,847$1,174,144
30$1,994,911$701,072$62,840$1,230,999
Total$32,200,000$10,804,489$1,014,301$20,381,213

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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.