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North Carolina Powerball Jackpot Annuity Payout Schedule for Jan 24, 2015

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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 $235,200,000 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, Jan 24, 2015
Jackpot:$235,200,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,193,639$1,509,834$188,714$2,495,091
2$4,361,385$1,571,900$196,262$2,593,222
3$4,535,840$1,636,449$204,113$2,695,279
4$4,717,274$1,703,579$212,277$2,801,417
5$4,905,965$1,773,395$220,768$2,911,802
6$5,102,203$1,846,003$229,599$3,026,601
7$5,306,292$1,921,516$238,783$3,145,993
8$5,518,543$2,000,049$248,334$3,270,160
9$5,739,285$2,081,723$258,268$3,399,294
10$5,968,856$2,166,665$268,599$3,533,593
11$6,207,611$2,255,004$279,342$3,673,264
12$6,455,915$2,346,876$290,516$3,818,523
13$6,714,152$2,442,424$302,137$3,969,591
14$6,982,718$2,541,793$314,222$4,126,702
15$7,262,026$2,645,138$326,791$4,290,098
16$7,552,507$2,752,616$339,863$4,460,029
17$7,854,608$2,864,393$353,457$4,636,758
18$8,168,792$2,980,641$367,596$4,820,556
19$8,495,544$3,101,539$382,299$5,011,705
20$8,835,366$3,227,273$397,591$5,210,501
21$9,188,780$3,358,036$413,495$5,417,249
22$9,556,331$3,494,030$430,035$5,632,266
23$9,938,585$3,635,464$447,236$5,855,884
24$10,336,128$3,782,555$465,126$6,088,447
25$10,749,573$3,935,530$483,731$6,330,313
26$11,179,556$4,094,623$503,080$6,581,853
27$11,626,738$4,260,081$523,203$6,843,454
28$12,091,808$4,432,157$544,131$7,115,520
29$12,575,480$4,611,115$565,897$7,398,468
30$13,078,499$4,797,233$588,532$7,692,734
Total$235,200,000$85,769,634$10,583,997$138,846,367

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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.