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North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 5, 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 $1,656,800,000 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:Sat, Nov 5, 2022
Jackpot:$1,656,800,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,937,218$9,184,958$1,122,175$14,630,084
2$26,184,079$9,646,297$1,178,284$15,359,498
3$27,493,282$10,130,702$1,237,198$16,125,382
4$28,867,947$10,639,328$1,299,058$16,929,561
5$30,311,343$11,173,385$1,364,010$17,773,948
6$31,826,911$11,734,145$1,432,211$18,660,555
7$33,418,257$12,322,943$1,503,822$19,591,493
8$35,089,170$12,941,181$1,579,013$20,568,977
9$36,843,628$13,590,330$1,657,963$21,595,335
10$38,685,809$14,271,937$1,740,861$22,673,011
11$40,620,100$14,987,625$1,827,905$23,804,571
12$42,651,105$15,739,097$1,919,300$24,992,709
13$44,783,660$16,528,142$2,015,265$26,240,253
14$47,022,844$17,356,640$2,116,028$27,550,176
15$49,373,985$18,226,562$2,221,829$28,925,594
16$51,842,685$19,139,981$2,332,921$30,369,783
17$54,434,818$20,099,071$2,449,567$31,886,181
18$57,156,560$21,106,115$2,572,045$33,478,400
19$60,014,387$22,163,511$2,700,647$35,150,229
20$63,015,107$23,273,777$2,835,680$36,905,650
21$66,165,862$24,439,557$2,977,464$38,748,842
22$69,474,155$25,663,625$3,126,337$40,684,193
23$72,947,864$26,948,897$3,282,654$42,716,312
24$76,595,256$28,298,432$3,446,787$44,850,037
25$80,425,018$29,715,445$3,619,126$47,090,448
26$84,446,271$31,203,308$3,800,082$49,442,881
27$88,668,584$32,765,564$3,990,086$51,912,934
28$93,102,012$34,405,932$4,189,591$54,506,489
29$97,757,113$36,128,320$4,399,070$57,229,723
30$102,644,970$37,936,827$4,619,024$60,089,120
Total$1,656,800,003$611,761,634$74,556,003$970,482,369

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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.