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North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$42,603$595,652
2$994,072$325,994$44,733$623,344
3$1,043,776$344,385$46,970$652,421
4$1,095,964$363,695$49,318$682,951
5$1,150,763$383,970$51,784$715,008
6$1,208,301$405,259$54,374$748,668
7$1,268,716$427,613$57,092$784,011
8$1,332,152$451,084$59,947$821,121
9$1,398,759$475,729$62,944$860,086
10$1,468,697$501,606$66,091$901,000
11$1,542,132$528,777$69,396$943,959
12$1,619,239$557,306$72,866$989,067
13$1,700,201$587,262$76,509$1,036,430
14$1,785,211$618,716$80,334$1,086,160
15$1,874,471$651,742$84,351$1,138,378
16$1,968,195$686,420$88,569$1,193,206
17$2,066,604$722,831$92,997$1,250,776
18$2,169,935$761,064$97,647$1,311,224
19$2,278,431$801,207$102,529$1,374,695
20$2,392,353$843,358$107,656$1,441,339
21$2,511,971$887,617$113,039$1,511,315
22$2,637,569$934,088$118,691$1,584,790
23$2,769,447$982,883$124,625$1,661,939
24$2,907,920$1,034,118$130,856$1,742,945
25$3,053,316$1,087,915$137,399$1,828,002
26$3,205,982$1,144,401$144,269$1,917,312
27$3,366,281$1,203,712$151,483$2,011,086
28$3,534,595$1,265,988$159,057$2,109,550
29$3,711,324$1,331,378$167,010$2,212,937
30$3,896,891$1,400,037$175,360$2,321,493
Total$62,900,000$22,018,635$2,830,499$38,050,865

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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.