USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for Apr 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 $42,300,000 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, Apr 16, 2011
Jackpot:$42,300,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$754,213$237,247$33,940$483,027
2$784,382$248,409$35,297$500,676
3$815,757$260,018$36,709$519,030
4$848,387$272,091$38,177$538,119
5$882,323$284,647$39,705$557,971
6$917,616$297,706$41,293$578,617
7$954,320$311,286$42,944$600,090
8$992,493$325,410$44,662$622,421
9$1,032,193$340,099$46,449$645,645
10$1,073,481$355,376$48,307$669,798
11$1,116,420$371,263$50,239$694,918
12$1,161,077$387,786$52,248$721,042
13$1,207,520$404,970$54,338$748,211
14$1,255,820$422,841$56,512$776,467
15$1,306,053$441,427$58,772$805,853
16$1,358,295$460,757$61,123$836,415
17$1,412,627$480,860$63,568$868,199
18$1,469,132$501,767$66,111$901,255
19$1,527,898$523,510$68,755$935,632
20$1,589,013$546,123$71,506$971,385
21$1,652,574$569,640$74,366$1,008,568
22$1,718,677$594,098$77,340$1,047,238
23$1,787,424$619,535$80,434$1,087,455
24$1,858,921$645,989$83,651$1,129,281
25$1,933,278$673,501$86,998$1,172,780
26$2,010,609$702,113$90,477$1,218,018
27$2,091,033$731,870$94,096$1,265,067
28$2,174,675$762,817$97,860$1,313,997
29$2,261,662$795,003$101,775$1,364,884
30$2,352,128$828,475$105,846$1,417,807
Total$42,300,000$14,396,634$1,903,498$25,999,866

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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.