USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for Sep 11, 2002

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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 $87,000,000 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, Sep 11, 2002
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,551,219$532,139$69,805$949,275
2$1,613,267$555,097$72,597$985,574
3$1,677,798$578,973$75,501$1,023,324
4$1,744,910$603,804$78,521$1,062,585
5$1,814,706$629,629$81,662$1,103,415
6$1,887,295$656,487$84,928$1,145,880
7$1,962,786$684,419$88,325$1,190,042
8$2,041,298$713,468$91,858$1,235,972
9$2,122,950$743,679$95,533$1,283,738
10$2,207,868$775,099$99,354$1,333,415
11$2,296,183$807,775$103,328$1,385,079
12$2,388,030$841,759$107,461$1,438,810
13$2,483,551$877,102$111,760$1,494,690
14$2,582,893$913,858$116,230$1,552,805
15$2,686,209$952,085$120,879$1,613,244
16$2,793,657$991,841$125,715$1,676,102
17$2,905,403$1,033,187$130,743$1,741,473
18$3,021,620$1,076,187$135,973$1,809,460
19$3,142,484$1,120,907$141,412$1,880,166
20$3,268,184$1,167,416$147,068$1,953,700
21$3,398,911$1,215,785$152,951$2,030,175
22$3,534,867$1,266,089$159,069$2,109,710
23$3,676,262$1,318,405$165,432$2,192,426
24$3,823,313$1,372,813$172,049$2,278,450
25$3,976,245$1,429,398$178,931$2,367,916
26$4,135,295$1,488,247$186,088$2,460,960
27$4,300,707$1,549,449$193,532$2,557,726
28$4,472,735$1,613,100$201,273$2,658,362
29$4,651,644$1,679,296$209,324$2,763,024
30$4,837,710$1,748,141$217,697$2,871,873
Total$87,000,000$30,935,634$3,914,999$52,149,371

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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.