USA Mega

North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 7, 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 $2,040,100,000 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 7, 2022
Jackpot:$2,040,100,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$30,706,433$11,324,335$1,458,556$17,923,542
2$32,241,755$11,892,404$1,531,483$18,817,867
3$33,853,842$12,488,876$1,608,057$19,756,908
4$35,546,535$13,115,173$1,688,460$20,742,902
5$37,323,860$13,772,783$1,772,883$21,778,193
6$39,190,054$14,463,275$1,861,528$22,865,251
7$41,149,558$15,188,291$1,954,604$24,006,662
8$43,207,035$15,949,558$2,052,334$25,205,143
9$45,367,387$16,748,888$2,154,951$26,463,548
10$47,635,756$17,588,185$2,262,698$27,784,873
11$50,017,544$18,469,446$2,375,833$29,172,264
12$52,518,421$19,394,771$2,494,625$30,629,025
13$55,144,342$20,366,361$2,619,356$32,158,624
14$57,901,559$21,386,532$2,750,324$33,764,703
15$60,796,637$22,457,711$2,887,840$35,451,086
16$63,836,469$23,582,449$3,032,232$37,221,788
17$67,028,291$24,763,423$3,183,844$39,081,025
18$70,379,706$26,003,446$3,343,036$41,033,224
19$73,898,691$27,305,471$3,510,188$43,083,033
20$77,593,627$28,672,597$3,685,697$45,235,332
21$81,473,307$30,108,079$3,869,982$47,495,246
22$85,546,973$31,615,335$4,063,481$49,868,157
23$89,824,322$33,197,954$4,266,655$52,359,712
24$94,315,537$34,859,704$4,479,988$54,975,845
25$99,031,314$36,604,541$4,703,987$57,722,785
26$103,982,881$38,436,621$4,939,187$60,607,073
27$109,182,025$40,360,304$5,186,146$63,635,574
28$114,641,124$42,380,171$5,445,453$66,815,500
29$120,373,181$44,501,032$5,717,726$70,154,423
30$126,391,841$46,727,936$6,003,612$73,660,293
Total$2,040,100,004$753,725,652$96,904,746$1,189,469,601

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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.