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North Carolina Powerball Jackpot Annuity Payout Schedule for Oct 25, 2023

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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 $103,400,000 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:Wed, Oct 25, 2023
Jackpot:$103,400,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,556,318$534,026$70,034$952,259
2$1,634,134$562,817$73,536$997,781
3$1,715,841$593,049$77,213$1,045,579
4$1,801,633$624,792$81,073$1,095,768
5$1,891,715$658,122$85,127$1,148,465
6$1,986,300$693,119$89,384$1,203,798
7$2,085,616$729,865$93,853$1,261,897
8$2,189,896$768,449$98,545$1,322,902
9$2,299,391$808,962$103,473$1,386,956
10$2,414,361$851,501$108,646$1,454,213
11$2,535,079$896,167$114,079$1,524,833
12$2,661,833$943,066$119,782$1,598,984
13$2,794,924$992,310$125,772$1,676,843
14$2,934,670$1,044,016$132,060$1,758,594
15$3,081,404$1,098,307$138,663$1,844,434
16$3,235,474$1,155,313$145,596$1,934,565
17$3,397,248$1,215,169$152,876$2,029,202
18$3,567,110$1,278,019$160,520$2,128,572
19$3,745,466$1,344,010$168,546$2,232,910
20$3,932,739$1,413,301$176,973$2,342,465
21$4,129,376$1,486,057$185,822$2,457,497
22$4,335,845$1,562,450$195,113$2,578,281
23$4,552,637$1,642,663$204,869$2,705,105
24$4,780,269$1,726,887$215,112$2,838,270
25$5,019,282$1,815,322$225,868$2,978,092
26$5,270,247$1,908,179$237,161$3,124,906
27$5,533,759$2,005,679$249,019$3,279,061
28$5,810,447$2,108,053$261,470$3,440,924
29$6,100,969$2,215,546$274,544$3,610,879
30$6,406,018$2,328,414$288,271$3,789,333
Total$103,400,000$37,003,630$4,653,000$61,743,368

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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.