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Powerball Annuity Jackpot Analysis for New York

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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 New York, 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:

New York

Drawing Date:  Wed, Jun 1, 2016
Jackpot:$100,000,000
Federal Tax:  25%
State Tax:8.82%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,505,144$376,286$132,754$996,104
2$1,580,401$395,100$139,391$1,045,909
3$1,659,421$414,855$146,361$1,098,205
4$1,742,392$435,598$153,679$1,153,115
5$1,829,511$457,378$161,363$1,210,771
6$1,920,987$480,247$169,431$1,271,309
7$2,017,036$504,259$177,903$1,334,875
8$2,117,888$529,472$186,798$1,401,618
9$2,223,783$555,946$196,138$1,471,699
10$2,334,972$583,743$205,944$1,545,284
11$2,451,720$612,930$216,242$1,622,548
12$2,574,306$643,577$227,054$1,703,676
13$2,703,022$675,755$238,406$1,788,860
14$2,838,173$709,543$250,327$1,878,303
15$2,980,081$745,020$262,843$1,972,218
16$3,129,085$782,271$275,985$2,070,829
17$3,285,540$821,385$289,785$2,174,370
18$3,449,817$862,454$304,274$2,283,089
19$3,622,307$905,577$319,488$2,397,243
20$3,803,423$950,856$335,462$2,517,105
21$3,993,594$998,398$352,235$2,642,960
22$4,193,274$1,048,318$369,847$2,775,108
23$4,402,937$1,100,734$388,339$2,913,864
24$4,623,084$1,155,771$407,756$3,059,557
25$4,854,238$1,213,560$428,144$3,212,535
26$5,096,950$1,274,238$449,551$3,373,162
27$5,351,798$1,337,949$472,029$3,541,820
28$5,619,388$1,404,847$495,630$3,718,911
29$5,900,357$1,475,089$520,411$3,904,856
30$6,195,375$1,548,844$546,432$4,100,099
Total$100,000,000$25,000,000$8,820,000$66,180,000
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