USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Sep 24, 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 $274,800,000 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, Sep 24, 2022
Jackpot:$274,800,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,136,134$1,488,557$126,152$2,521,425
2$4,342,941$1,565,076$132,460$2,645,405
3$4,560,088$1,645,420$139,083$2,775,585
4$4,788,093$1,729,782$146,037$2,912,274
5$5,027,497$1,818,362$153,339$3,055,797
6$5,278,872$1,911,370$161,006$3,206,496
7$5,542,816$2,009,030$169,056$3,364,730
8$5,819,956$2,111,572$177,509$3,530,876
9$6,110,954$2,219,241$186,384$3,705,329
10$6,416,502$2,332,293$195,703$3,888,505
11$6,737,327$2,450,999$205,488$4,080,840
12$7,074,193$2,575,639$215,763$4,282,791
13$7,427,903$2,706,512$226,551$4,494,840
14$7,799,298$2,843,928$237,879$4,717,492
15$8,189,263$2,988,215$249,773$4,951,276
16$8,598,726$3,139,717$262,261$5,196,749
17$9,028,663$3,298,793$275,374$5,454,495
18$9,480,096$3,465,823$289,143$5,725,130
19$9,954,100$3,641,205$303,600$6,009,295
20$10,451,806$3,825,356$318,780$6,307,670
21$10,974,396$4,018,714$334,719$6,620,963
22$11,523,116$4,221,741$351,455$6,949,920
23$12,099,271$4,434,918$369,028$7,295,325
24$12,704,235$4,658,755$387,479$7,658,001
25$13,339,447$4,893,783$406,853$8,038,810
26$14,006,419$5,140,563$427,196$8,438,661
27$14,706,740$5,399,682$448,556$8,858,503
28$15,442,077$5,671,756$470,983$9,299,337
29$16,214,181$5,957,435$494,533$9,762,214
30$17,024,890$6,257,397$519,259$10,248,234
Total$274,800,001$100,421,634$8,381,402$165,996,968

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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.