USA Mega

Tennessee Powerball Jackpot Annuity Payout Schedule for Sep 8, 2010

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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 $63,700,000 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, Sep 8, 2010
Jackpot:$63,700,000
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$1,135,777$378,425$0$757,352
2$1,181,208$395,235$0$785,974
3$1,228,457$412,717$0$815,740
4$1,277,595$430,898$0$846,697
5$1,328,699$449,806$0$878,893
6$1,381,847$469,471$0$912,376
7$1,437,121$489,922$0$947,198
8$1,494,605$511,192$0$983,414
9$1,554,390$533,312$0$1,021,078
10$1,616,565$556,317$0$1,060,248
11$1,681,228$580,242$0$1,100,986
12$1,748,477$605,124$0$1,143,353
13$1,818,416$631,002$0$1,187,414
14$1,891,153$657,914$0$1,233,238
15$1,966,799$685,903$0$1,280,896
16$2,045,471$715,012$0$1,330,459
17$2,127,290$745,285$0$1,382,005
18$2,212,381$776,769$0$1,435,612
19$2,300,876$809,512$0$1,491,364
20$2,392,911$843,565$0$1,549,346
21$2,488,628$878,980$0$1,609,648
22$2,588,173$915,812$0$1,672,361
23$2,691,700$954,117$0$1,737,583
24$2,799,368$993,954$0$1,805,414
25$2,911,343$1,035,385$0$1,875,958
26$3,027,796$1,078,472$0$1,949,324
27$3,148,908$1,123,284$0$2,025,624
28$3,274,865$1,169,888$0$2,104,977
29$3,405,859$1,218,356$0$2,187,504
30$3,542,094$1,268,762$0$2,273,331
Total$63,700,000$22,314,633$0$41,385,367

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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.