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Tennessee Powerball Jackpot Annuity Payout Schedule for Feb 28, 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 $412,000,000 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 money, as well as deductions claimed.

State:

Tennessee

Drawing Date:Wed, Feb 28, 2024
Jackpot:$412,000,000
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$6,201,191$2,252,629$0$3,948,563
2$6,511,251$2,367,351$0$4,143,900
3$6,836,813$2,487,809$0$4,349,005
4$7,178,654$2,614,290$0$4,564,364
5$7,537,587$2,747,095$0$4,790,492
6$7,914,466$2,886,540$0$5,027,926
7$8,310,190$3,032,958$0$5,277,232
8$8,725,699$3,186,696$0$5,539,003
9$9,161,984$3,348,122$0$5,813,862
10$9,620,083$3,517,618$0$6,102,465
11$10,101,087$3,695,590$0$6,405,497
12$10,606,142$3,882,460$0$6,723,681
13$11,136,449$4,078,674$0$7,057,775
14$11,693,271$4,284,698$0$7,408,573
15$12,277,935$4,501,024$0$7,776,911
16$12,891,831$4,728,165$0$8,163,666
17$13,536,423$4,966,664$0$8,569,759
18$14,213,244$5,217,088$0$8,996,156
19$14,923,906$5,480,033$0$9,443,873
20$15,670,102$5,756,125$0$9,913,976
21$16,453,606$6,046,022$0$10,407,584
22$17,276,287$6,350,414$0$10,925,873
23$18,140,101$6,670,025$0$11,470,076
24$19,047,106$7,005,617$0$12,041,489
25$19,999,461$7,357,988$0$12,641,473
26$20,999,435$7,727,979$0$13,271,456
27$22,049,407$8,116,468$0$13,932,938
28$23,151,877$8,524,382$0$14,627,494
29$24,309,470$8,952,692$0$15,356,779
30$25,524,944$9,402,417$0$16,122,527
Total$412,000,001$151,185,633$0$260,814,368

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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.