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North Carolina Powerball Jackpot Annuity Payout Schedule for Feb 6, 2023

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The tax information provided here is based on 2022 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 $747,000,000 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 prize money, as well as deductions claimed.

State:

North Carolina

Drawing Date:Mon, Feb 6, 2023
Jackpot:$747,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$11,243,422$4,123,021$534,063$6,586,338
2$11,805,593$4,331,024$560,766$6,913,803
3$12,395,873$4,549,428$588,804$7,257,641
4$13,015,667$4,778,752$618,244$7,618,671
5$13,666,449$5,019,541$649,156$7,997,752
6$14,349,772$5,272,371$681,614$8,395,787
7$15,067,261$5,537,842$715,695$8,813,725
8$15,820,624$5,816,586$751,480$9,252,559
9$16,611,655$6,109,267$789,054$9,713,334
10$17,442,238$6,416,583$828,506$10,197,149
11$18,314,350$6,739,264$869,932$10,705,154
12$19,230,067$7,078,080$913,428$11,238,559
13$20,191,571$7,433,836$959,100$11,798,635
14$21,201,149$7,807,380$1,007,055$12,386,714
15$22,261,207$8,199,601$1,057,407$13,004,198
16$23,374,267$8,611,434$1,110,278$13,652,556
17$24,542,980$9,043,858$1,165,792$14,333,331
18$25,770,129$9,497,903$1,224,081$15,048,145
19$27,058,636$9,974,650$1,285,285$15,798,700
20$28,411,568$10,475,235$1,349,549$16,586,783
21$29,832,146$11,000,849$1,417,027$17,414,270
22$31,323,753$11,552,744$1,487,878$18,283,131
23$32,889,941$12,132,233$1,562,272$19,195,436
24$34,534,437$12,740,697$1,640,386$20,153,355
25$36,261,159$13,379,584$1,722,405$21,159,170
26$38,074,218$14,050,416$1,808,525$22,215,277
27$39,977,929$14,754,789$1,898,952$23,324,189
28$41,976,825$15,494,380$1,993,899$24,488,545
29$44,075,666$16,270,951$2,093,594$25,711,120
30$46,279,450$17,086,351$2,198,274$26,994,824
Total$747,000,001$275,278,650$35,482,501$436,238,851

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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.