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North Carolina Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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 prize money, as well as deductions claimed.

State:

North Carolina

Drawing Date:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 4.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$475,125$5,560,489
2$9,997,615$3,662,072$498,881$5,836,661
3$10,497,495$3,847,028$523,825$6,126,642
4$11,022,371$4,041,232$550,016$6,431,122
5$11,573,488$4,245,146$577,517$6,750,826
6$12,152,163$4,459,255$606,393$7,086,515
7$12,759,772$4,684,071$636,713$7,438,989
8$13,397,760$4,920,126$668,548$7,809,086
9$14,067,648$5,167,985$701,976$8,197,688
10$14,771,030$5,428,236$737,074$8,605,720
11$15,509,582$5,701,500$773,928$9,034,154
12$16,285,061$5,988,428$812,625$9,484,009
13$17,099,314$6,289,701$853,256$9,956,357
14$17,954,280$6,606,039$895,919$10,452,323
15$18,851,994$6,938,193$940,714$10,973,087
16$19,794,594$7,286,955$987,750$11,519,889
17$20,784,323$7,653,154$1,037,138$12,094,031
18$21,823,539$8,037,664$1,088,995$12,696,880
19$22,914,716$8,441,400$1,143,444$13,329,872
20$24,060,452$8,865,322$1,200,617$13,994,513
21$25,263,474$9,310,441$1,260,647$14,692,386
22$26,526,648$9,777,815$1,323,680$15,425,154
23$27,852,981$10,268,558$1,389,864$16,194,559
24$29,245,629$10,783,838$1,459,357$17,002,435
25$30,707,911$11,324,882$1,532,325$17,850,704
26$32,243,307$11,892,979$1,608,941$18,741,387
27$33,855,472$12,489,480$1,689,388$19,676,604
28$35,548,245$13,115,806$1,773,857$20,658,582
29$37,325,658$13,773,448$1,862,550$21,689,659
30$39,191,941$14,463,973$1,955,678$22,772,290
Total$632,600,001$232,950,651$31,566,741$368,082,613

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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.