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Indiana Powerball Jackpot Annuity Payout Schedule for Nov 5, 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 $1,656,800,000 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:Sat, Nov 5, 2022
Jackpot:$1,656,800,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,937,218$9,184,958$760,585$14,991,674
2$26,184,079$9,646,297$798,614$15,739,167
3$27,493,282$10,130,702$838,545$16,524,035
4$28,867,947$10,639,328$880,472$17,348,147
5$30,311,343$11,173,385$924,496$18,213,463
6$31,826,911$11,734,145$970,721$19,122,045
7$33,418,257$12,322,943$1,019,257$20,076,058
8$35,089,170$12,941,181$1,070,220$21,077,770
9$36,843,628$13,590,330$1,123,731$22,129,568
10$38,685,809$14,271,937$1,179,917$23,233,955
11$40,620,100$14,987,625$1,238,913$24,393,562
12$42,651,105$15,739,097$1,300,859$25,611,150
13$44,783,660$16,528,142$1,365,902$26,889,617
14$47,022,844$17,356,640$1,434,197$28,232,007
15$49,373,985$18,226,562$1,505,907$29,641,516
16$51,842,685$19,139,981$1,581,202$31,121,502
17$54,434,818$20,099,071$1,660,262$32,675,486
18$57,156,560$21,106,115$1,743,275$34,307,170
19$60,014,387$22,163,511$1,830,439$36,020,437
20$63,015,107$23,273,777$1,921,961$37,819,369
21$66,165,862$24,439,557$2,018,059$39,708,247
22$69,474,155$25,663,625$2,118,962$41,691,568
23$72,947,864$26,948,897$2,224,910$43,774,056
24$76,595,256$28,298,432$2,336,155$45,960,668
25$80,425,018$29,715,445$2,452,963$48,256,611
26$84,446,271$31,203,308$2,575,611$50,667,352
27$88,668,584$32,765,564$2,704,392$53,198,629
28$93,102,012$34,405,932$2,839,611$55,856,469
29$97,757,113$36,128,320$2,981,592$58,647,202
30$102,644,970$37,936,827$3,130,672$61,577,472
Total$1,656,800,003$611,761,634$50,532,402$994,505,972

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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.