USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for May 18, 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 $130,500,000 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 18, 2005
Jackpot:$130,500,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,326,828$819,114$104,707$1,403,007
2$2,419,901$853,551$108,896$1,457,454
3$2,516,697$889,366$113,251$1,514,080
4$2,617,365$926,613$117,781$1,572,971
5$2,722,060$965,350$122,493$1,634,217
6$2,830,942$1,005,636$127,392$1,697,913
7$2,944,180$1,047,534$132,488$1,764,157
8$3,061,947$1,091,108$137,788$1,833,051
9$3,184,425$1,136,425$143,299$1,904,701
10$3,311,802$1,183,554$149,031$1,979,216
11$3,444,274$1,232,569$154,992$2,056,712
12$3,582,045$1,283,544$161,192$2,137,308
13$3,725,326$1,336,559$167,640$2,221,128
14$3,874,340$1,391,693$174,345$2,308,301
15$4,029,313$1,449,034$181,319$2,398,960
16$4,190,486$1,508,667$188,572$2,493,246
17$4,358,105$1,570,687$196,115$2,591,304
18$4,532,429$1,635,187$203,959$2,693,283
19$4,713,726$1,702,267$212,118$2,799,342
20$4,902,276$1,772,030$220,602$2,909,643
21$5,098,367$1,844,583$229,426$3,024,357
22$5,302,301$1,920,039$238,604$3,143,658
23$5,514,393$1,998,513$248,148$3,267,732
24$5,734,969$2,080,126$258,074$3,396,769
25$5,964,368$2,165,004$268,397$3,530,967
26$6,202,942$2,253,276$279,132$3,670,534
27$6,451,060$2,345,080$290,298$3,815,682
28$6,709,103$2,440,556$301,910$3,966,637
29$6,977,467$2,539,850$313,986$4,123,630
30$7,256,565$2,643,117$326,545$4,286,903
Total$130,500,000$47,030,632$5,872,500$77,596,863

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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.