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Indiana Powerball Jackpot Annuity Payout Schedule for Jul 29, 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 $142,600,000 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, Jul 29, 2024
Jackpot:$142,600,000
Federal Tax:37% marginal rate
State Tax: 3.05%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,146,335$752,332$65,463$1,328,540
2$2,253,651$792,039$68,736$1,392,876
3$2,366,334$833,731$72,173$1,460,429
4$2,484,651$877,509$75,782$1,531,360
5$2,608,883$923,475$79,571$1,605,838
6$2,739,327$971,739$83,549$1,684,039
7$2,876,294$1,022,416$87,727$1,766,150
8$3,020,108$1,075,628$92,113$1,852,367
9$3,171,114$1,131,500$96,719$1,942,895
10$3,329,670$1,190,165$101,555$2,037,949
11$3,496,153$1,251,764$106,633$2,137,756
12$3,670,961$1,316,443$111,964$2,242,553
13$3,854,509$1,384,356$117,563$2,352,590
14$4,047,234$1,455,664$123,441$2,468,129
15$4,249,596$1,530,538$129,613$2,589,445
16$4,462,076$1,609,156$136,093$2,716,827
17$4,685,179$1,691,704$142,898$2,850,577
18$4,919,438$1,778,380$150,043$2,991,016
19$5,165,410$1,869,390$157,545$3,138,476
20$5,423,681$1,964,950$165,422$3,293,309
21$5,694,865$2,065,288$173,693$3,455,884
22$5,979,608$2,170,643$182,378$3,626,587
23$6,278,588$2,281,265$191,497$3,805,826
24$6,592,518$2,397,419$201,072$3,994,027
25$6,922,144$2,519,381$211,125$4,191,637
26$7,268,251$2,647,441$221,682$4,399,129
27$7,631,664$2,781,903$232,766$4,616,995
28$8,013,247$2,923,089$244,404$4,845,754
29$8,413,909$3,071,334$256,624$5,085,951
30$8,834,604$3,226,991$269,455$5,338,158
Total$142,600,000$51,507,633$4,349,299$86,743,069

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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.