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North Carolina Powerball Jackpot Annuity Payout Schedule for Sep 24, 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 $274,800,000 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, Sep 24, 2022
Jackpot:$274,800,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,136,134$1,488,557$186,126$2,461,451
2$4,342,941$1,565,076$195,432$2,582,433
3$4,560,088$1,645,420$205,204$2,709,464
4$4,788,093$1,729,782$215,464$2,842,846
5$5,027,497$1,818,362$226,237$2,982,898
6$5,278,872$1,911,370$237,549$3,129,952
7$5,542,816$2,009,030$249,427$3,284,359
8$5,819,956$2,111,572$261,898$3,446,487
9$6,110,954$2,219,241$274,993$3,616,721
10$6,416,502$2,332,293$288,743$3,795,466
11$6,737,327$2,450,999$303,180$3,983,149
12$7,074,193$2,575,639$318,339$4,180,215
13$7,427,903$2,706,512$334,256$4,387,136
14$7,799,298$2,843,928$350,968$4,604,402
15$8,189,263$2,988,215$368,517$4,832,531
16$8,598,726$3,139,717$386,943$5,072,067
17$9,028,663$3,298,793$406,290$5,323,580
18$9,480,096$3,465,823$426,604$5,587,668
19$9,954,100$3,641,205$447,935$5,864,961
20$10,451,806$3,825,356$470,331$6,156,119
21$10,974,396$4,018,714$493,848$6,461,834
22$11,523,116$4,221,741$518,540$6,782,835
23$12,099,271$4,434,918$544,467$7,119,886
24$12,704,235$4,658,755$571,691$7,473,790
25$13,339,447$4,893,783$600,275$7,845,388
26$14,006,419$5,140,563$630,289$8,235,567
27$14,706,740$5,399,682$661,803$8,645,255
28$15,442,077$5,671,756$694,893$9,075,427
29$16,214,181$5,957,435$729,638$9,527,108
30$17,024,890$6,257,397$766,120$10,001,373
Total$274,800,001$100,421,634$12,366,000$162,012,368

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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.