USA Mega

Tennessee Powerball Jackpot Annuity Payout Schedule for May 17, 1997

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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 $11,000,000 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:Sat, May 17, 1997
Jackpot:$11,000,000
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$196,131$40,448$0$155,683
2$203,976$42,959$0$161,017
3$212,135$45,570$0$166,566
4$220,621$48,285$0$172,336
5$229,446$51,109$0$178,337
6$238,623$54,046$0$184,577
7$248,168$57,234$0$190,935
8$258,095$60,708$0$197,387
9$268,419$64,321$0$204,098
10$279,156$68,079$0$211,076
11$290,322$71,987$0$218,335
12$301,935$76,052$0$225,883
13$314,012$80,279$0$233,733
14$326,573$84,675$0$241,897
15$339,636$89,247$0$250,388
16$353,221$94,002$0$259,219
17$367,350$98,947$0$268,403
18$382,044$104,090$0$277,954
19$397,326$109,439$0$287,887
20$413,219$115,001$0$298,217
21$429,747$120,786$0$308,961
22$446,937$126,803$0$320,134
23$464,815$133,060$0$331,755
24$483,407$139,567$0$343,840
25$502,744$146,335$0$356,409
26$522,853$153,373$0$369,480
27$543,768$160,693$0$383,074
28$565,518$168,306$0$397,212
29$588,139$176,223$0$411,916
30$611,665$184,504$0$427,161
Total$11,000,000$2,966,128$0$8,033,870

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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.