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North Carolina Powerball Jackpot Annuity Payout Schedule for Jul 23, 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 $93,600,000 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, Jul 23, 2011
Jackpot:$93,600,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,668,897$575,680$75,100$1,018,117
2$1,735,653$600,379$78,104$1,057,169
3$1,805,079$626,067$81,229$1,097,784
4$1,877,282$652,782$84,478$1,140,022
5$1,952,374$680,566$87,857$1,183,951
6$2,030,469$709,461$91,371$1,229,636
7$2,111,687$739,512$95,026$1,277,149
8$2,196,155$770,765$98,827$1,326,563
9$2,284,001$803,268$102,780$1,377,953
10$2,375,361$837,071$106,891$1,431,399
11$2,470,376$872,227$111,167$1,486,982
12$2,569,191$908,788$115,614$1,544,789
13$2,671,958$946,812$120,238$1,604,908
14$2,778,837$986,357$125,048$1,667,432
15$2,889,990$1,027,484$130,050$1,732,456
16$3,005,590$1,070,256$135,252$1,800,082
17$3,125,813$1,114,739$140,662$1,870,413
18$3,250,846$1,161,001$146,288$1,943,557
19$3,380,880$1,209,113$152,140$2,019,627
20$3,516,115$1,259,150$158,225$2,098,739
21$3,656,759$1,311,189$164,554$2,181,017
22$3,803,030$1,365,309$171,136$2,266,585
23$3,955,151$1,421,594$177,982$2,355,576
24$4,113,357$1,480,130$185,101$2,448,126
25$4,277,891$1,541,008$192,505$2,544,379
26$4,449,007$1,604,320$200,205$2,644,481
27$4,626,967$1,670,166$208,214$2,748,588
28$4,812,046$1,738,645$216,542$2,856,859
29$5,004,528$1,809,863$225,204$2,969,461
30$5,204,709$1,883,930$234,212$3,086,567
Total$93,600,000$33,377,632$4,212,002$56,010,367

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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.