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North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$23,021$318,252
2$508,889$151,864$24,172$332,853
3$534,333$160,770$25,381$348,183
4$561,050$170,544$26,650$363,857
5$589,103$180,923$27,982$380,197
6$618,558$191,821$29,381$397,355
7$649,486$203,265$30,851$415,370
8$681,960$215,280$32,393$434,287
9$716,058$227,896$34,013$454,149
10$751,861$241,144$35,713$475,004
11$789,454$255,053$37,499$496,902
12$828,927$269,658$39,374$519,895
13$870,373$284,993$41,343$544,037
14$913,892$301,095$43,410$569,387
15$959,586$318,002$45,580$596,004
16$1,007,565$335,754$47,859$623,952
17$1,057,944$354,394$50,252$653,297
18$1,110,841$373,966$52,765$684,110
19$1,166,383$394,517$55,403$716,463
20$1,224,702$416,095$58,173$750,434
21$1,285,937$438,752$61,082$786,103
22$1,350,234$462,542$64,136$823,556
23$1,417,746$487,521$67,343$862,882
24$1,488,633$513,749$70,710$904,174
25$1,563,065$541,289$74,246$947,530
26$1,641,218$570,206$77,958$993,054
27$1,723,279$600,568$81,856$1,040,855
28$1,809,443$632,449$85,949$1,091,045
29$1,899,915$665,924$90,246$1,143,745
30$1,994,911$701,072$94,758$1,199,080
Total$32,200,000$10,804,489$1,529,499$19,866,012

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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.