USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for North Carolina (Jul. 29, 2020 Drawing)

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $126,000,000 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:  Jul. 29, 2020
Jackpot:$126,000,000
Federal Tax:  24%
State Tax:5.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,896,481$455,155$104,287$1,337,038
2$1,991,305$477,913$109,502$1,403,890
3$2,090,870$501,809$114,977$1,474,084
4$2,195,414$526,899$120,726$1,547,789
5$2,305,184$553,244$126,762$1,625,178
6$2,420,443$580,906$133,100$1,706,437
7$2,541,466$609,952$139,755$1,791,759
8$2,668,539$640,449$146,743$1,881,347
9$2,801,966$672,472$154,080$1,975,414
10$2,942,064$706,095$161,784$2,074,185
11$3,089,167$741,400$169,873$2,177,894
12$3,243,626$778,470$178,367$2,286,789
13$3,405,807$817,394$187,285$2,401,128
14$3,576,097$858,263$196,650$2,521,184
15$3,754,902$901,177$206,482$2,647,244
16$3,942,647$946,235$216,806$2,779,606
17$4,139,780$993,547$227,646$2,918,586
18$4,346,769$1,043,225$239,029$3,064,515
19$4,564,107$1,095,386$250,980$3,217,741
20$4,792,313$1,150,155$263,529$3,378,628
21$5,031,928$1,207,663$276,706$3,547,560
22$5,283,525$1,268,046$290,541$3,724,938
23$5,547,701$1,331,448$305,068$3,911,185
24$5,825,086$1,398,021$320,321$4,106,744
25$6,116,340$1,467,922$336,338$4,312,081
26$6,422,157$1,541,318$353,154$4,527,685
27$6,743,265$1,618,384$370,812$4,754,069
28$7,080,428$1,699,303$389,353$4,991,773
29$7,434,450$1,784,268$408,820$5,241,361
30$7,806,172$1,873,481$429,261$5,503,429
Total$126,000,000$30,240,000$6,928,740$88,831,260
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.