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Tennessee Powerball Jackpot Annuity Payout Schedule for Jun 25, 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 $333,700,000 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, Jun 25, 2022
Jackpot:$333,700,000
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$5,022,664$1,821,341$0$3,201,323
2$5,273,797$1,914,260$0$3,359,537
3$5,537,487$2,011,825$0$3,525,662
4$5,814,361$2,114,269$0$3,700,093
5$6,105,079$2,221,834$0$3,883,245
6$6,410,333$2,334,778$0$4,075,555
7$6,730,850$2,453,370$0$4,277,481
8$7,067,393$2,577,890$0$4,489,502
9$7,420,762$2,708,637$0$4,712,125
10$7,791,800$2,845,921$0$4,945,879
11$8,181,390$2,990,069$0$5,191,321
12$8,590,460$3,141,425$0$5,449,035
13$9,019,983$3,300,349$0$5,719,634
14$9,470,982$3,467,218$0$6,003,764
15$9,944,531$3,642,431$0$6,302,100
16$10,441,758$3,826,405$0$6,615,352
17$10,963,845$4,019,578$0$6,944,268
18$11,512,038$4,222,409$0$7,289,629
19$12,087,639$4,435,382$0$7,652,258
20$12,692,022$4,659,003$0$8,033,019
21$13,326,623$4,893,805$0$8,432,817
22$13,992,954$5,140,348$0$8,852,606
23$14,692,601$5,399,218$0$9,293,384
24$15,427,231$5,671,031$0$9,756,201
25$16,198,593$5,956,434$0$10,242,159
26$17,008,523$6,256,108$0$10,752,414
27$17,858,949$6,570,766$0$11,288,183
28$18,751,896$6,901,157$0$11,850,740
29$19,689,491$7,248,067$0$12,441,424
30$20,673,966$7,612,322$0$13,061,643
Total$333,700,001$122,357,650$0$211,342,353

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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.