USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Dec 3, 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 $79,900,000 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 prize money, as well as deductions claimed.

State:

Indiana

Drawing Date:Sat, Dec 3, 2022
Jackpot:$79,900,000
Federal Tax:37% marginal rate
State Tax: 3.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,202,610$407,921$37,882$756,807
2$1,262,740$430,169$39,776$792,795
3$1,325,877$453,530$41,765$830,582
4$1,392,171$478,058$43,853$870,259
5$1,461,780$503,813$46,046$911,920
6$1,534,869$530,856$48,348$955,664
7$1,611,612$559,251$50,766$1,001,595
8$1,692,193$589,066$53,304$1,049,822
9$1,776,802$620,372$55,969$1,100,461
10$1,865,642$653,243$58,768$1,153,632
11$1,958,924$687,757$61,706$1,209,461
12$2,056,871$723,997$64,791$1,268,082
13$2,159,714$762,049$68,031$1,329,634
14$2,267,700$802,004$71,433$1,394,263
15$2,381,085$843,956$75,004$1,462,124
16$2,500,139$888,006$78,754$1,533,378
17$2,625,146$934,259$82,692$1,608,195
18$2,756,403$982,824$86,827$1,686,752
19$2,894,224$1,033,818$91,168$1,769,238
20$3,038,935$1,087,361$95,726$1,855,847
21$3,190,881$1,143,581$100,513$1,946,788
22$3,350,426$1,202,612$105,538$2,042,275
23$3,517,947$1,264,595$110,815$2,142,536
24$3,693,844$1,329,677$116,356$2,247,811
25$3,878,536$1,398,013$122,174$2,358,349
26$4,072,463$1,469,766$128,283$2,474,414
27$4,276,086$1,545,107$134,697$2,596,283
28$4,489,891$1,624,215$141,432$2,724,245
29$4,714,385$1,707,278$148,503$2,858,605
30$4,950,104$1,794,494$155,928$2,999,683
Total$79,900,000$28,451,648$2,516,848$48,931,500

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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.