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North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 28, 2022

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The tax information provided here is based on 2025 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 $54,800,000 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 28, 2022
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$262,203$35,055$527,561
2$866,060$277,462$36,808$551,790
3$909,363$293,484$38,648$577,230
4$954,831$310,308$40,580$603,943
5$1,002,572$327,972$42,609$631,991
6$1,052,701$346,520$44,740$661,441
7$1,105,336$365,995$46,977$692,365
8$1,160,603$386,443$49,326$724,834
9$1,218,633$407,914$51,792$758,927
10$1,279,564$430,459$54,381$794,724
11$1,343,543$454,131$57,101$832,311
12$1,410,720$478,987$59,956$871,778
13$1,481,256$505,085$62,953$913,218
14$1,555,319$532,488$66,101$956,729
15$1,633,084$561,262$69,406$1,002,417
16$1,714,739$591,474$72,876$1,050,389
17$1,800,476$623,196$76,520$1,100,759
18$1,890,499$656,505$80,346$1,153,648
19$1,985,024$691,479$84,364$1,209,182
20$2,084,276$728,202$88,582$1,267,492
21$2,188,489$766,761$93,011$1,328,717
22$2,297,914$807,248$97,661$1,393,004
23$2,412,810$849,760$102,544$1,460,505
24$2,533,450$894,397$107,672$1,531,382
25$2,660,123$941,266$113,055$1,605,802
26$2,793,129$990,478$118,708$1,683,943
27$2,932,785$1,042,151$124,643$1,765,991
28$3,079,424$1,096,407$130,876$1,852,142
29$3,233,396$1,153,377$137,419$1,942,600
30$3,395,065$1,213,194$144,290$2,037,581
Total$54,800,000$18,986,608$2,329,000$33,484,396

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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.