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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 $127,000,000 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, Aug 24, 2016
Jackpot:$127,000,000
Federal Tax:  25%
State Tax:8.82%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,911,532$477,883$168,597$1,265,052
2$2,007,109$501,777$177,027$1,328,305
3$2,107,464$526,866$185,878$1,394,720
4$2,212,838$553,209$195,172$1,464,456
5$2,323,479$580,870$204,931$1,537,679
6$2,439,653$609,913$215,177$1,614,563
7$2,561,636$640,409$225,936$1,695,291
8$2,689,718$672,429$237,233$1,780,055
9$2,824,204$706,051$249,095$1,869,058
10$2,965,414$741,353$261,550$1,962,511
11$3,113,685$778,421$274,627$2,060,637
12$3,269,369$817,342$288,358$2,163,668
13$3,432,837$858,209$302,776$2,271,852
14$3,604,479$901,120$317,915$2,385,444
15$3,784,703$946,176$333,811$2,504,717
16$3,973,938$993,485$350,501$2,629,952
17$4,172,635$1,043,159$368,026$2,761,450
18$4,381,267$1,095,317$386,428$2,899,522
19$4,600,330$1,150,083$405,749$3,044,499
20$4,830,347$1,207,587$426,037$3,196,724
21$5,071,864$1,267,966$447,338$3,356,560
22$5,325,457$1,331,364$469,705$3,524,388
23$5,591,730$1,397,933$493,191$3,700,607
24$5,871,317$1,467,829$517,850$3,885,637
25$6,164,883$1,541,221$543,743$4,079,919
26$6,473,127$1,618,282$570,930$4,283,915
27$6,796,783$1,699,196$599,476$4,498,111
28$7,136,622$1,784,156$629,450$4,723,017
29$7,493,453$1,873,363$660,923$4,959,167
30$7,868,126$1,967,031$693,969$5,207,126
Total$127,000,000$31,750,000$11,201,400$84,048,600
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