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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 $133,000,000 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, Sep 5, 2015
Jackpot:$133,000,000
Federal Tax:  25%
State Tax:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,371,403$592,851$136,356$1,642,197
2$2,466,259$616,565$141,810$1,707,885
3$2,564,910$641,227$147,482$1,776,200
4$2,667,506$666,877$153,382$1,847,248
5$2,774,206$693,552$159,517$1,921,138
6$2,885,175$721,294$165,898$1,997,983
7$3,000,582$750,145$172,533$2,077,903
8$3,120,605$780,151$179,435$2,161,019
9$3,245,429$811,357$186,612$2,247,460
10$3,375,246$843,812$194,077$2,337,358
11$3,510,256$877,564$201,840$2,430,852
12$3,650,666$912,667$209,913$2,528,086
13$3,796,693$949,173$218,310$2,629,210
14$3,948,561$987,140$227,042$2,734,378
15$4,106,503$1,026,626$236,124$2,843,753
16$4,270,763$1,067,691$245,569$2,957,503
17$4,441,594$1,110,398$255,392$3,075,804
18$4,619,257$1,154,814$265,607$3,198,836
19$4,804,028$1,201,007$276,232$3,326,789
20$4,996,189$1,249,047$287,281$3,459,861
21$5,196,036$1,299,009$298,772$3,598,255
22$5,403,878$1,350,969$310,723$3,742,185
23$5,620,033$1,405,008$323,152$3,891,873
24$5,844,834$1,461,209$336,078$4,047,548
25$6,078,628$1,519,657$349,521$4,209,450
26$6,321,773$1,580,443$363,502$4,377,828
27$6,574,644$1,643,661$378,042$4,552,941
28$6,837,629$1,709,407$393,164$4,735,058
29$7,111,135$1,777,784$408,890$4,924,461
30$7,395,580$1,848,895$425,246$5,121,439
Total$133,000,000$33,250,000$7,647,500$92,102,500
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