USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 16, 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 $47,100,000 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, Nov 16, 2011
Jackpot:$47,100,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$839,798$268,913$37,791$533,094
2$873,390$281,342$39,303$552,745
3$908,325$294,268$40,875$573,182
4$944,658$307,711$42,510$594,437
5$982,444$321,692$44,210$616,542
6$1,021,742$336,232$45,978$639,531
7$1,062,612$351,354$47,818$663,440
8$1,105,116$367,081$49,730$688,305
9$1,149,321$383,437$51,719$714,165
10$1,195,294$400,447$53,788$741,059
11$1,243,106$418,137$55,940$769,029
12$1,292,830$436,535$58,177$798,118
13$1,344,543$455,669$60,504$828,370
14$1,398,325$475,568$62,925$859,832
15$1,454,258$496,263$65,442$892,553
16$1,512,428$517,786$68,059$926,583
17$1,572,925$540,170$70,782$961,974
18$1,635,842$563,449$73,613$998,780
19$1,701,276$587,660$76,557$1,037,059
20$1,769,327$612,839$79,620$1,076,869
21$1,840,100$639,025$82,805$1,118,271
22$1,913,704$666,258$86,117$1,161,329
23$1,990,252$694,581$89,561$1,206,110
24$2,069,862$724,037$93,144$1,252,682
25$2,152,657$754,671$96,870$1,301,117
26$2,238,763$786,530$100,744$1,351,489
27$2,328,314$819,664$104,774$1,403,876
28$2,421,446$854,123$108,965$1,458,358
29$2,518,304$889,960$113,324$1,515,020
30$2,619,036$927,231$117,857$1,573,948
Total$47,100,000$16,172,633$2,119,502$28,807,867

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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.