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Tennessee Powerball Jackpot Annuity Payout Schedule for Sep 24, 2022

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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 $274,800,000 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, Sep 24, 2022
Jackpot:$274,800,000
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$4,136,134$1,488,557$0$2,647,577
2$4,342,941$1,565,076$0$2,777,865
3$4,560,088$1,645,420$0$2,914,668
4$4,788,093$1,729,782$0$3,058,311
5$5,027,497$1,818,362$0$3,209,135
6$5,278,872$1,911,370$0$3,367,502
7$5,542,816$2,009,030$0$3,533,786
8$5,819,956$2,111,572$0$3,708,385
9$6,110,954$2,219,241$0$3,891,713
10$6,416,502$2,332,293$0$4,084,208
11$6,737,327$2,450,999$0$4,286,328
12$7,074,193$2,575,639$0$4,498,554
13$7,427,903$2,706,512$0$4,721,391
14$7,799,298$2,843,928$0$4,955,370
15$8,189,263$2,988,215$0$5,201,048
16$8,598,726$3,139,717$0$5,459,010
17$9,028,663$3,298,793$0$5,729,870
18$9,480,096$3,465,823$0$6,014,273
19$9,954,100$3,641,205$0$6,312,896
20$10,451,806$3,825,356$0$6,626,450
21$10,974,396$4,018,714$0$6,955,682
22$11,523,116$4,221,741$0$7,301,375
23$12,099,271$4,434,918$0$7,664,353
24$12,704,235$4,658,755$0$8,045,480
25$13,339,447$4,893,783$0$8,445,664
26$14,006,419$5,140,563$0$8,865,856
27$14,706,740$5,399,682$0$9,307,059
28$15,442,077$5,671,756$0$9,770,321
29$16,214,181$5,957,435$0$10,256,746
30$17,024,890$6,257,397$0$10,767,493
Total$274,800,001$100,421,634$0$174,378,369

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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.