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Powerball Annuity Jackpot Analysis for North Carolina

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $100,000,000 would be for a resident of North Carolina, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

North Carolina

Drawing Date:  Sat, Mar 7, 2015
Jackpot:$100,000,000
Federal Tax:  25%
State Tax:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,783,010$445,752$102,523$1,234,734
2$1,854,330$463,583$106,624$1,284,124
3$1,928,504$482,126$110,889$1,335,489
4$2,005,644$501,411$115,325$1,388,908
5$2,085,869$521,467$119,937$1,444,465
6$2,169,304$542,326$124,735$1,502,243
7$2,256,076$564,019$129,724$1,562,333
8$2,346,319$586,580$134,913$1,624,826
9$2,440,172$610,043$140,310$1,689,819
10$2,537,779$634,445$145,922$1,757,412
11$2,639,290$659,823$151,759$1,827,708
12$2,744,862$686,215$157,830$1,900,817
13$2,854,656$713,664$164,143$1,976,849
14$2,968,843$742,211$170,708$2,055,923
15$3,087,596$771,899$177,537$2,138,160
16$3,211,100$802,775$184,638$2,223,687
17$3,339,544$834,886$192,024$2,312,634
18$3,473,126$868,281$199,705$2,405,140
19$3,612,051$903,013$207,693$2,501,345
20$3,756,533$939,133$216,001$2,601,399
21$3,906,794$976,699$224,641$2,705,455
22$4,063,066$1,015,767$233,626$2,813,673
23$4,225,589$1,056,397$242,971$2,926,220
24$4,394,612$1,098,653$252,690$3,043,269
25$4,570,397$1,142,599$262,798$3,165,000
26$4,753,213$1,188,303$273,310$3,291,600
27$4,943,341$1,235,835$284,242$3,423,264
28$5,141,075$1,285,269$295,612$3,560,194
29$5,346,718$1,336,679$307,436$3,702,602
30$5,560,586$1,390,147$319,734$3,850,706
Total$100,000,000$25,000,000$5,750,000$69,250,000
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