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Indiana Powerball Jackpot Annuity Payout Schedule for Dec 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 $89,200,000 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 money, as well as deductions claimed.

State:

Indiana

Drawing Date:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$40,949$846,694
2$1,409,717$479,783$42,996$886,938
3$1,480,203$505,863$45,146$929,194
4$1,554,213$533,247$47,404$973,563
5$1,631,924$562,000$49,774$1,020,151
6$1,713,520$592,190$52,262$1,069,068
7$1,799,196$623,890$54,875$1,120,430
8$1,889,156$657,176$57,619$1,174,361
9$1,983,614$692,125$60,500$1,230,989
10$2,082,795$728,822$63,525$1,290,448
11$2,186,934$767,353$66,701$1,352,879
12$2,296,281$807,812$70,037$1,418,433
13$2,411,095$850,293$73,538$1,487,264
14$2,531,650$894,898$77,215$1,559,536
15$2,658,232$941,734$81,076$1,635,423
16$2,791,144$990,911$85,130$1,715,103
17$2,930,701$1,042,547$89,386$1,798,768
18$3,077,236$1,096,765$93,856$1,886,615
19$3,231,098$1,153,694$98,548$1,978,856
20$3,392,653$1,213,469$103,476$2,075,708
21$3,562,286$1,276,233$108,650$2,177,403
22$3,740,400$1,342,136$114,082$2,284,182
23$3,927,420$1,411,333$119,786$2,396,301
24$4,123,791$1,483,990$125,776$2,514,025
25$4,329,980$1,560,281$132,064$2,637,636
26$4,546,480$1,640,385$138,668$2,767,427
27$4,773,804$1,724,495$145,601$2,903,707
28$5,012,494$1,812,810$152,881$3,046,802
29$5,263,118$1,905,542$160,525$3,197,052
30$5,526,274$2,002,909$168,551$3,354,814
Total$89,200,000$31,749,631$2,720,597$54,729,770

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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.