USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Jan 13, 2024

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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 $78,400,000 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, Jan 13, 2024
Jackpot:$78,400,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,180,033$394,800$35,991$749,242
2$1,239,034$416,630$37,791$784,613
3$1,300,986$439,553$39,680$821,753
4$1,366,035$463,621$41,664$860,750
5$1,434,337$488,892$43,747$901,697
6$1,506,054$515,428$45,935$944,691
7$1,581,356$543,290$48,231$989,835
8$1,660,424$572,545$50,643$1,037,237
9$1,743,445$603,263$53,175$1,087,008
10$1,830,618$635,516$55,834$1,139,268
11$1,922,149$669,383$58,626$1,194,140
12$2,018,256$704,942$61,557$1,251,757
13$2,119,169$742,280$64,635$1,312,254
14$2,225,127$781,485$67,866$1,375,776
15$2,336,384$822,650$71,260$1,442,474
16$2,453,203$865,873$74,823$1,512,507
17$2,575,863$911,257$78,564$1,586,042
18$2,704,656$958,911$82,492$1,663,254
19$2,839,889$1,008,947$86,617$1,744,326
20$2,981,883$1,061,485$90,947$1,829,451
21$3,130,978$1,116,649$95,495$1,918,833
22$3,287,526$1,174,573$100,270$2,012,684
23$3,451,903$1,235,392$105,283$2,111,228
24$3,624,498$1,299,252$110,547$2,214,699
25$3,805,723$1,366,305$116,075$2,323,343
26$3,996,009$1,436,711$121,878$2,437,420
27$4,195,809$1,510,637$127,972$2,557,200
28$4,405,600$1,588,260$134,371$2,682,969
29$4,625,880$1,669,763$141,089$2,815,027
30$4,857,174$1,755,342$148,144$2,953,688
Total$78,400,000$27,753,635$2,391,202$48,255,166

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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.