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North Carolina Powerball Jackpot Annuity Payout Schedule for Nov 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 $337,900,000 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 25, 2023
Jackpot:$337,900,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,085,880$1,839,963$228,865$3,017,052
2$5,340,174$1,934,052$240,308$3,165,814
3$5,607,183$2,032,845$252,323$3,322,014
4$5,887,542$2,136,578$264,939$3,486,024
5$6,181,919$2,245,498$278,186$3,658,235
6$6,491,015$2,359,863$292,096$3,839,056
7$6,815,566$2,479,947$306,700$4,028,918
8$7,156,344$2,606,035$322,035$4,228,273
9$7,514,161$2,738,427$338,137$4,437,596
10$7,889,869$2,877,439$355,044$4,657,386
11$8,284,363$3,023,402$372,796$4,888,164
12$8,698,581$3,176,663$391,436$5,130,482
13$9,133,510$3,337,586$411,008$5,384,915
14$9,590,185$3,506,556$431,558$5,652,071
15$10,069,694$3,683,975$453,136$5,932,583
16$10,573,179$3,870,264$475,793$6,227,122
17$11,101,838$4,065,868$499,583$6,536,387
18$11,656,930$4,271,252$524,562$6,861,116
19$12,239,776$4,486,905$550,790$7,202,081
20$12,851,765$4,713,341$578,329$7,560,095
21$13,494,353$4,951,099$607,246$7,936,009
22$14,169,071$5,200,744$637,608$8,330,719
23$14,877,525$5,462,872$669,489$8,745,164
24$15,621,401$5,738,106$702,963$9,180,332
25$16,402,471$6,027,102$738,111$9,637,258
26$17,222,595$6,330,548$775,017$10,117,030
27$18,083,724$6,649,166$813,768$10,620,791
28$18,987,910$6,983,715$854,456$11,149,740
29$19,937,306$7,334,991$897,179$11,705,136
30$20,934,171$7,703,831$942,038$12,288,303
Total$337,900,001$123,768,633$15,205,499$198,925,866

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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.