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North Carolina Powerball Jackpot Annuity Payout Schedule for May 22, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-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 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

North Carolina

Drawing Date:Wed, May 22, 2024
Jackpot:$100,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,505,144$515,091$67,731$922,321
2$1,580,401$542,936$71,118$966,347
3$1,659,421$572,173$74,674$1,012,573
4$1,742,392$602,873$78,408$1,061,111
5$1,829,511$635,107$82,328$1,112,076
6$1,920,987$668,953$86,444$1,165,590
7$2,017,036$704,491$90,767$1,221,778
8$2,117,888$741,806$95,305$1,280,777
9$2,223,783$780,987$100,070$1,342,725
10$2,334,972$822,127$105,074$1,407,771
11$2,451,720$865,324$110,327$1,476,069
12$2,574,306$910,681$115,844$1,547,781
13$2,703,022$958,306$121,636$1,623,080
14$2,838,173$1,008,312$127,718$1,702,143
15$2,980,081$1,060,818$134,104$1,785,160
16$3,129,085$1,115,949$140,809$1,872,327
17$3,285,540$1,173,837$147,849$1,963,853
18$3,449,817$1,234,620$155,242$2,059,955
19$3,622,307$1,298,441$163,004$2,160,862
20$3,803,423$1,365,454$171,154$2,266,815
21$3,993,594$1,435,817$179,712$2,378,065
22$4,193,274$1,509,699$188,697$2,494,877
23$4,402,937$1,587,275$198,132$2,617,531
24$4,623,084$1,668,729$208,039$2,746,316
25$4,854,238$1,754,256$218,441$2,881,542
26$5,096,950$1,844,059$229,363$3,023,528
27$5,351,798$1,938,353$240,831$3,172,614
28$5,619,388$2,037,361$252,872$3,329,154
29$5,900,357$2,141,320$265,516$3,493,521
30$6,195,375$2,250,476$278,792$3,666,107
Total$100,000,000$35,745,631$4,500,001$59,754,369

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.