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Tennessee Powerball Jackpot Annuity Payout Schedule for Sep 7, 2024

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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 $111,500,000 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 7, 2024
Jackpot:$111,500,000
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$1,678,235$579,135$0$1,099,100
2$1,762,147$610,182$0$1,151,965
3$1,850,254$642,782$0$1,207,472
4$1,942,767$677,011$0$1,265,755
5$2,039,905$712,953$0$1,326,952
6$2,141,900$750,691$0$1,391,209
7$2,248,995$790,316$0$1,458,679
8$2,361,445$831,922$0$1,529,523
9$2,479,517$875,609$0$1,603,908
10$2,603,493$921,480$0$1,682,013
11$2,733,668$969,645$0$1,764,023
12$2,870,351$1,020,218$0$1,850,134
13$3,013,869$1,073,319$0$1,940,550
14$3,164,562$1,129,076$0$2,035,487
15$3,322,791$1,187,620$0$2,135,170
16$3,488,930$1,249,092$0$2,239,838
17$3,663,377$1,313,637$0$2,349,739
18$3,846,545$1,381,410$0$2,465,136
19$4,038,873$1,452,571$0$2,586,302
20$4,240,816$1,527,290$0$2,713,527
21$4,452,857$1,605,745$0$2,847,112
22$4,675,500$1,688,123$0$2,987,377
23$4,909,275$1,774,619$0$3,134,655
24$5,154,739$1,865,441$0$3,289,298
25$5,412,476$1,960,804$0$3,451,672
26$5,683,099$2,060,935$0$3,622,165
27$5,967,254$2,166,072$0$3,801,183
28$6,265,617$2,276,466$0$3,989,151
29$6,578,898$2,392,380$0$4,186,518
30$6,907,843$2,514,090$0$4,393,753
Total$111,500,000$40,000,634$0$71,499,366

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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.