USA Mega

Tennessee Powerball Jackpot Annuity Payout Schedule for May 25, 2013

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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 $50,000,000 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 25, 2013
Jackpot:$50,000,000
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$891,505$288,045$0$603,460
2$927,165$301,239$0$625,926
3$964,252$314,961$0$649,291
4$1,002,822$329,232$0$673,590
5$1,042,935$344,074$0$698,861
6$1,084,652$359,509$0$725,143
7$1,128,038$375,562$0$752,476
8$1,173,160$392,257$0$780,903
9$1,220,086$409,620$0$810,466
10$1,268,890$427,677$0$841,213
11$1,319,645$446,456$0$873,189
12$1,372,431$465,987$0$906,444
13$1,427,328$486,299$0$941,029
14$1,484,421$507,424$0$976,998
15$1,543,798$529,393$0$1,014,405
16$1,605,550$552,241$0$1,053,309
17$1,669,772$576,003$0$1,093,769
18$1,736,563$600,716$0$1,135,847
19$1,806,025$626,417$0$1,179,608
20$1,878,266$653,146$0$1,225,120
21$1,953,397$680,945$0$1,272,452
22$2,031,533$709,855$0$1,321,678
23$2,112,794$739,922$0$1,372,873
24$2,197,306$771,191$0$1,426,115
25$2,285,198$803,711$0$1,481,487
26$2,376,606$837,532$0$1,539,074
27$2,471,671$872,706$0$1,598,965
28$2,570,537$909,287$0$1,661,251
29$2,673,359$947,331$0$1,726,028
30$2,780,293$986,896$0$1,793,397
Total$50,000,000$17,245,634$0$32,754,367

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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.