USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for Mar 2, 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 $20,000,000 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, Mar 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$16,047$245,369
2$370,866$100,178$16,689$253,999
3$385,701$105,370$17,357$262,974
4$401,129$110,770$18,051$272,308
5$417,174$116,386$18,773$282,015
6$433,861$122,226$19,524$292,111
7$451,215$128,300$20,305$302,610
8$469,264$134,617$21,117$313,530
9$488,034$141,187$21,962$324,886
10$507,556$148,019$22,840$336,697
11$527,858$155,125$23,754$348,979
12$548,972$162,515$24,704$361,754
13$570,931$170,201$25,692$375,039
14$593,769$178,194$26,720$388,855
15$617,519$186,670$27,788$403,061
16$642,220$195,809$28,900$417,511
17$667,909$205,314$30,056$432,539
18$694,625$215,199$31,258$448,168
19$722,410$225,480$32,508$464,422
20$751,307$236,171$33,809$481,327
21$781,359$247,291$35,161$498,907
22$812,613$258,855$36,568$517,191
23$845,118$270,881$38,030$536,206
24$878,922$283,389$39,552$555,982
25$914,079$296,397$41,134$576,549
26$950,643$309,925$42,779$597,938
27$988,668$323,995$44,490$620,183
28$1,028,215$338,627$46,270$643,318
29$1,069,344$353,845$48,120$667,378
30$1,112,117$369,671$50,045$692,401
Total$20,000,000$6,185,792$900,003$12,914,207

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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.