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North Carolina Powerball Jackpot Annuity Payout Schedule for Oct 22, 2011

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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 $148,600,000 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, Oct 22, 2011
Jackpot:$148,600,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,649,553$938,522$119,230$1,591,801
2$2,755,535$977,736$123,999$1,653,800
3$2,865,756$1,018,518$128,959$1,718,280
4$2,980,386$1,060,931$134,117$1,785,338
5$3,099,602$1,105,040$139,482$1,855,079
6$3,223,586$1,150,915$145,061$1,927,610
7$3,352,529$1,198,624$150,864$2,003,042
8$3,486,631$1,248,241$156,898$2,081,491
9$3,626,096$1,299,843$163,174$2,163,078
10$3,771,140$1,353,509$169,701$2,247,929
11$3,921,985$1,409,322$176,489$2,336,174
12$4,078,865$1,467,368$183,549$2,427,948
13$4,242,019$1,527,735$190,891$2,523,394
14$4,411,700$1,590,517$198,527$2,622,657
15$4,588,168$1,655,810$206,468$2,725,891
16$4,771,695$1,723,715$214,726$2,833,254
17$4,962,563$1,794,336$223,315$2,944,911
18$5,161,065$1,867,782$232,248$3,061,035
19$5,367,508$1,944,166$241,538$3,181,804
20$5,582,208$2,023,605$251,199$3,307,404
21$5,805,496$2,106,221$261,247$3,438,028
22$6,037,716$2,192,143$271,697$3,573,876
23$6,279,225$2,281,501$282,565$3,715,159
24$6,530,394$2,374,433$293,868$3,862,093
25$6,791,610$2,471,083$305,622$4,014,904
26$7,063,274$2,571,599$317,847$4,173,828
27$7,345,805$2,676,136$330,561$4,339,108
28$7,639,637$2,784,853$343,784$4,511,000
29$7,945,223$2,897,920$357,535$4,689,767
30$8,263,031$3,015,509$371,836$4,875,686
Total$148,600,000$53,727,633$6,686,997$88,185,369

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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.