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North Carolina Powerball Jackpot Annuity Payout Schedule for Jun 20, 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 $80,000,000 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:Sat, Jun 20, 2015
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,426,408$485,959$64,188$876,261
2$1,483,464$507,070$66,756$909,639
3$1,542,803$529,025$69,426$944,352
4$1,604,515$551,858$72,203$980,453
5$1,668,696$575,605$75,091$1,017,999
6$1,735,443$600,302$78,095$1,057,047
7$1,804,861$625,986$81,219$1,097,656
8$1,877,056$652,698$84,467$1,139,890
9$1,952,138$680,479$87,846$1,183,813
10$2,030,223$709,370$91,360$1,229,493
11$2,111,432$739,418$95,014$1,277,000
12$2,195,889$770,667$98,815$1,326,408
13$2,283,725$803,166$102,768$1,377,791
14$2,375,074$836,965$106,878$1,431,231
15$2,470,077$872,116$111,153$1,486,807
16$2,568,880$908,673$115,600$1,544,607
17$2,671,635$946,693$120,224$1,604,719
18$2,778,501$986,233$125,033$1,667,235
19$2,889,641$1,027,355$130,034$1,732,252
20$3,005,226$1,070,122$135,235$1,799,870
21$3,125,435$1,114,599$140,645$1,870,192
22$3,250,453$1,160,855$146,270$1,943,327
23$3,380,471$1,208,962$152,121$2,019,388
24$3,515,690$1,258,993$158,206$2,098,491
25$3,656,317$1,311,025$164,534$2,180,758
26$3,802,570$1,365,139$171,116$2,266,316
27$3,954,673$1,421,417$177,960$2,355,296
28$4,112,860$1,479,946$185,079$2,447,835
29$4,277,374$1,540,816$192,482$2,544,076
30$4,448,469$1,604,121$200,181$2,644,167
Total$80,000,000$28,345,633$3,599,999$48,054,369

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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.