USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for Sep 5, 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 $134,100,000 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, Sep 5, 2015
Jackpot:$134,100,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,391,016$842,864$107,596$1,440,557
2$2,486,657$878,251$111,900$1,496,507
3$2,586,123$915,053$116,376$1,554,694
4$2,689,568$953,328$121,031$1,615,210
5$2,797,151$993,134$125,872$1,678,146
6$2,909,037$1,034,531$130,907$1,743,599
7$3,025,398$1,077,585$136,143$1,811,670
8$3,146,414$1,122,361$141,589$1,882,465
9$3,272,271$1,168,928$147,252$1,956,091
10$3,403,162$1,217,358$153,142$2,032,662
11$3,539,288$1,267,724$159,268$2,112,296
12$3,680,860$1,320,106$165,639$2,195,115
13$3,828,094$1,374,583$172,264$2,281,247
14$3,981,218$1,431,238$179,155$2,370,825
15$4,140,467$1,490,160$186,321$2,463,985
16$4,306,085$1,551,439$193,774$2,560,872
17$4,478,329$1,615,169$201,525$2,661,635
18$4,657,462$1,681,449$209,586$2,766,427
19$4,843,760$1,750,379$217,969$2,875,412
20$5,037,511$1,822,067$226,688$2,988,756
21$5,239,011$1,896,622$235,756$3,106,634
22$5,448,572$1,974,159$245,186$3,229,227
23$5,666,514$2,054,798$254,993$3,356,723
24$5,893,175$2,138,663$265,193$3,489,320
25$6,128,902$2,225,881$275,801$3,627,220
26$6,374,058$2,316,589$286,833$3,770,636
27$6,629,020$2,410,925$298,306$3,919,789
28$6,894,181$2,509,035$310,238$4,074,908
29$7,169,948$2,611,069$322,648$4,236,232
30$7,456,746$2,717,184$335,554$4,404,009
Total$134,100,000$48,362,632$6,034,505$79,702,869

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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.