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Tennessee Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 $60,000,000 for a ticket purchased in Tennessee, 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 prize money, as well as deductions claimed.

State:

Tennessee

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$0$604,872
2$948,240$314,921$0$633,319
3$995,652$332,464$0$663,189
4$1,045,435$350,883$0$694,552
5$1,097,707$370,224$0$727,483
6$1,152,592$390,531$0$762,061
7$1,210,222$411,854$0$798,367
8$1,270,733$434,243$0$836,489
9$1,334,270$457,752$0$876,518
10$1,400,983$482,436$0$918,547
11$1,471,032$508,354$0$962,678
12$1,544,584$535,568$0$1,009,015
13$1,621,813$564,143$0$1,057,670
14$1,702,904$594,147$0$1,108,757
15$1,788,049$625,650$0$1,162,398
16$1,877,451$658,729$0$1,218,722
17$1,971,324$693,462$0$1,277,862
18$2,069,890$729,932$0$1,339,958
19$2,173,384$768,224$0$1,405,160
20$2,282,054$808,432$0$1,473,622
21$2,396,156$850,650$0$1,545,506
22$2,515,964$894,979$0$1,620,985
23$2,641,762$941,524$0$1,700,238
24$2,773,850$990,397$0$1,783,454
25$2,912,543$1,041,713$0$1,870,830
26$3,058,170$1,095,595$0$1,962,575
27$3,211,079$1,152,171$0$2,058,907
28$3,371,633$1,211,576$0$2,160,056
29$3,540,214$1,273,951$0$2,266,263
30$3,717,225$1,339,445$0$2,377,779
Total$60,000,000$21,122,164$0$38,877,832

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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.