USA Mega

Indiana Powerball Jackpot Annuity Payout Schedule for Mar 4, 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 $462,700,000 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, Mar 4, 2024
Jackpot:$462,700,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,964,299$2,534,978$212,411$4,216,909
2$7,312,514$2,663,818$223,032$4,425,664
3$7,678,140$2,799,099$234,183$4,644,857
4$8,062,047$2,941,145$245,892$4,875,009
5$8,465,149$3,090,293$258,187$5,116,669
6$8,888,406$3,246,898$271,096$5,370,412
7$9,332,827$3,411,334$284,651$5,636,842
8$9,799,468$3,583,991$298,884$5,916,593
9$10,289,442$3,765,281$313,828$6,210,333
10$10,803,914$3,955,636$329,519$6,518,758
11$11,344,109$4,155,508$345,995$6,842,606
12$11,911,315$4,365,374$363,295$7,182,645
13$12,506,880$4,585,734$381,460$7,539,687
14$13,132,225$4,817,111$400,533$7,914,581
15$13,788,836$5,060,057$420,559$8,308,219
16$14,478,278$5,315,150$441,587$8,721,540
17$15,202,191$5,582,999$463,667$9,155,526
18$15,962,301$5,864,239$486,850$9,611,212
19$16,760,416$6,159,542$511,193$10,089,682
20$17,598,437$6,469,609$536,752$10,592,075
21$18,478,359$6,795,180$563,590$11,119,588
22$19,402,276$7,137,030$591,769$11,673,477
23$20,372,390$7,495,972$621,358$12,255,060
24$21,391,010$7,872,861$652,426$12,865,723
25$22,460,560$8,268,595$685,047$13,506,918
26$23,583,589$8,684,116$719,299$14,180,174
27$24,762,768$9,120,412$755,264$14,887,092
28$26,000,906$9,578,523$793,028$15,629,355
29$27,300,951$10,059,540$832,679$16,408,733
30$28,665,999$10,564,607$874,313$17,227,079
Total$462,700,001$169,944,632$14,112,347$278,643,018

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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.