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Tennessee Powerball Jackpot Annuity Payout Schedule for Nov 26, 2022

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The tax information provided here is based on 2022 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 $45,700,000 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 prize money, as well as deductions claimed.

State:

Tennessee

Drawing Date:Sat, Nov 26, 2022
Jackpot:$45,700,000
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$687,851$217,460$0$470,391
2$722,243$230,185$0$492,058
3$758,355$243,546$0$514,809
4$796,273$257,576$0$538,697
5$836,087$272,307$0$563,780
6$877,891$287,775$0$590,116
7$921,786$304,016$0$617,770
8$967,875$321,069$0$646,806
9$1,016,269$338,974$0$677,294
10$1,067,082$357,775$0$709,307
11$1,120,436$377,516$0$742,920
12$1,176,458$398,244$0$778,213
13$1,235,281$420,009$0$815,272
14$1,297,045$442,862$0$854,183
15$1,361,897$466,857$0$895,040
16$1,429,992$492,052$0$937,940
17$1,501,492$518,507$0$982,985
18$1,576,566$546,284$0$1,030,282
19$1,655,394$575,451$0$1,079,943
20$1,738,164$606,076$0$1,132,088
21$1,825,072$638,232$0$1,186,841
22$1,916,326$671,996$0$1,244,330
23$2,012,142$707,448$0$1,304,695
24$2,112,749$744,672$0$1,368,077
25$2,218,387$783,758$0$1,434,629
26$2,329,306$824,798$0$1,504,508
27$2,445,772$867,890$0$1,577,881
28$2,568,060$913,137$0$1,654,923
29$2,696,463$960,646$0$1,735,817
30$2,831,286$1,010,531$0$1,820,755
Total$45,700,000$15,797,649$0$29,902,350

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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.