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North Carolina Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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:Sat, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$89,864$1,210,040
2$2,076,850$726,622$93,458$1,256,769
3$2,159,924$757,360$97,197$1,305,368
4$2,246,321$789,326$101,084$1,355,910
5$2,336,174$822,572$105,128$1,408,474
6$2,429,621$857,147$109,333$1,463,140
7$2,526,806$893,106$113,706$1,519,993
8$2,627,878$930,503$118,254$1,579,121
9$2,732,993$969,395$122,985$1,640,613
10$2,842,313$1,009,843$127,904$1,704,565
11$2,956,005$1,051,910$133,020$1,771,075
12$3,074,245$1,095,658$138,341$1,840,246
13$3,197,215$1,141,157$143,875$1,912,183
14$3,325,104$1,188,476$149,630$1,986,998
15$3,458,108$1,237,688$155,615$2,064,805
16$3,596,432$1,288,868$161,839$2,145,725
17$3,740,289$1,342,095$168,313$2,229,882
18$3,889,901$1,397,451$175,046$2,317,404
19$4,045,497$1,455,022$182,047$2,408,428
20$4,207,317$1,514,895$189,329$2,503,093
21$4,375,610$1,577,163$196,902$2,601,544
22$4,550,634$1,641,922$204,779$2,703,933
23$4,732,659$1,709,272$212,970$2,810,418
24$4,921,966$1,779,315$221,488$2,921,162
25$5,118,844$1,852,160$230,348$3,036,336
26$5,323,598$1,927,919$239,562$3,156,117
27$5,536,542$2,006,708$249,144$3,280,689
28$5,758,004$2,088,649$259,110$3,410,244
29$5,988,324$2,173,868$269,475$3,544,982
30$6,227,857$2,262,495$280,254$3,685,108
Total$112,000,000$40,185,632$5,040,000$66,774,365

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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.