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North Carolina Powerball Jackpot Annuity Payout Schedule for Jul 11, 2020

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The tax information provided here is based on 2021 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 $78,300,000 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 prize money, as well as deductions claimed.

State:

North Carolina

Drawing Date:Sat, Jul 11, 2020
Jackpot:$78,300,000
Federal Tax:37% marginal rate
State Tax: 5.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,178,527$400,127$61,873$716,527
2$1,237,454$421,930$64,966$750,557
3$1,299,326$444,823$68,215$786,289
4$1,364,293$468,861$71,625$823,807
5$1,432,507$494,100$75,207$863,201
6$1,504,133$520,601$78,967$904,564
7$1,579,339$548,428$82,915$947,996
8$1,658,306$577,646$87,061$993,600
9$1,741,222$608,324$91,414$1,041,483
10$1,828,283$640,537$95,985$1,091,761
11$1,919,697$674,360$100,784$1,144,553
12$2,015,682$709,874$105,823$1,199,984
13$2,116,466$747,165$111,114$1,258,187
14$2,222,289$786,319$116,670$1,319,300
15$2,333,404$827,432$122,504$1,383,468
16$2,450,074$870,600$128,629$1,450,845
17$2,572,577$915,926$135,060$1,521,591
18$2,701,206$963,519$141,813$1,595,874
19$2,836,267$1,013,491$148,904$1,673,872
20$2,978,080$1,065,962$156,349$1,755,769
21$3,126,984$1,121,056$164,167$1,841,761
22$3,283,333$1,178,906$172,375$1,932,053
23$3,447,500$1,239,647$180,994$2,026,859
24$3,619,875$1,303,426$190,043$2,126,405
25$3,800,869$1,370,394$199,546$2,230,929
26$3,990,912$1,440,710$209,523$2,340,679
27$4,190,458$1,514,542$219,999$2,455,917
28$4,399,980$1,592,065$230,999$2,576,916
29$4,619,979$1,673,465$242,549$2,703,966
30$4,850,978$1,758,934$254,676$2,837,368
Total$78,300,000$27,893,170$4,110,749$46,296,081

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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.