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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 $415,000,000 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:  Sat, May 7, 2016
Jackpot:$415,000,000
Federal Tax:  25%
State Tax:8.82%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,246,346$1,561,586$550,928$4,133,831
2$6,558,663$1,639,666$578,474$4,340,523
3$6,886,596$1,721,649$607,398$4,557,549
4$7,230,926$1,807,731$637,768$4,785,427
5$7,592,472$1,898,118$669,656$5,024,698
6$7,972,096$1,993,024$703,139$5,275,933
7$8,370,701$2,092,675$738,296$5,539,730
8$8,789,236$2,197,309$775,211$5,816,716
9$9,228,697$2,307,174$813,971$6,107,552
10$9,690,132$2,422,533$854,670$6,412,929
11$10,174,639$2,543,660$897,403$6,733,576
12$10,683,371$2,670,843$942,273$7,070,255
13$11,217,539$2,804,385$989,387$7,423,767
14$11,778,416$2,944,604$1,038,856$7,794,956
15$12,367,337$3,091,834$1,090,799$8,184,704
16$12,985,704$3,246,426$1,145,339$8,593,939
17$13,634,989$3,408,747$1,202,606$9,023,636
18$14,316,738$3,579,185$1,262,736$9,474,818
19$15,032,575$3,758,144$1,325,873$9,948,558
20$15,784,204$3,946,051$1,392,167$10,445,986
21$16,573,414$4,143,354$1,461,775$10,968,286
22$17,402,085$4,350,521$1,534,864$11,516,700
23$18,272,189$4,568,047$1,611,607$12,092,535
24$19,185,799$4,796,450$1,692,187$12,697,162
25$20,145,089$5,036,272$1,776,797$13,332,020
26$21,152,343$5,288,086$1,865,637$13,998,621
27$22,209,960$5,552,490$1,958,919$14,698,552
28$23,320,458$5,830,115$2,056,864$15,433,479
29$24,486,481$6,121,620$2,159,708$16,205,153
30$25,710,805$6,427,701$2,267,693$17,015,411
Total$415,000,001$103,750,000$36,603,000$274,647,001
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