USA Mega

Tennessee Powerball Jackpot Annuity Payout Schedule for Oct 12, 2011

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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 $87,200,000 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, Oct 12, 2011
Jackpot:$87,200,000
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$1,554,785$533,458$0$1,021,327
2$1,616,976$556,469$0$1,060,507
3$1,681,655$580,400$0$1,101,255
4$1,748,921$605,289$0$1,143,633
5$1,818,878$631,173$0$1,187,705
6$1,891,633$658,092$0$1,233,541
7$1,967,299$686,088$0$1,281,210
8$2,045,991$715,204$0$1,330,786
9$2,127,830$745,485$0$1,382,345
10$2,212,943$776,977$0$1,435,967
11$2,301,461$809,728$0$1,491,733
12$2,393,520$843,790$0$1,549,730
13$2,489,260$879,214$0$1,610,046
14$2,588,831$916,055$0$1,672,776
15$2,692,384$954,370$0$1,738,014
16$2,800,079$994,217$0$1,805,862
17$2,912,082$1,035,658$0$1,876,424
18$3,028,566$1,078,757$0$1,949,809
19$3,149,708$1,123,580$0$2,026,129
20$3,275,697$1,170,196$0$2,105,501
21$3,406,725$1,218,676$0$2,188,049
22$3,542,994$1,269,095$0$2,273,898
23$3,684,713$1,321,532$0$2,363,182
24$3,832,102$1,376,065$0$2,456,036
25$3,985,386$1,432,781$0$2,552,605
26$4,144,801$1,491,764$0$2,653,037
27$4,310,593$1,553,107$0$2,757,486
28$4,483,017$1,616,904$0$2,866,113
29$4,662,338$1,683,253$0$2,979,085
30$4,848,831$1,752,255$0$3,096,576
Total$87,200,000$31,009,632$0$56,190,367

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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.