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North Carolina Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 $60,000,000 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:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 5.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$47,412$557,460
2$948,240$314,921$49,783$583,537
3$995,652$332,464$52,272$610,917
4$1,045,435$350,883$54,885$639,667
5$1,097,707$370,224$57,630$669,853
6$1,152,592$390,531$60,511$701,550
7$1,210,222$411,854$63,537$734,831
8$1,270,733$434,243$66,713$769,776
9$1,334,270$457,752$70,049$806,468
10$1,400,983$482,436$73,552$844,995
11$1,471,032$508,354$77,229$885,449
12$1,544,584$535,568$81,091$927,925
13$1,621,813$564,143$85,145$972,525
14$1,702,904$594,147$89,402$1,019,355
15$1,788,049$625,650$93,873$1,068,526
16$1,877,451$658,729$98,566$1,120,156
17$1,971,324$693,462$103,494$1,174,367
18$2,069,890$729,932$108,669$1,231,289
19$2,173,384$768,224$114,103$1,291,057
20$2,282,054$808,432$119,808$1,353,814
21$2,396,156$850,650$125,798$1,419,708
22$2,515,964$894,979$132,088$1,488,897
23$2,641,762$941,524$138,693$1,561,545
24$2,773,850$990,397$145,627$1,637,826
25$2,912,543$1,041,713$152,909$1,717,921
26$3,058,170$1,095,595$160,554$1,802,021
27$3,211,079$1,152,171$168,582$1,890,326
28$3,371,633$1,211,576$177,011$1,983,046
29$3,540,214$1,273,951$185,861$2,080,401
30$3,717,225$1,339,445$195,154$2,182,625
Total$60,000,000$21,122,164$3,150,001$35,727,833

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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.