USA Mega

North Dakota Powerball Jackpot Annuity Payout Schedule for Nov 28, 2001

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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 $24,500,000 for a ticket purchased in North Dakota, 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 Dakota

Drawing Date:Wed, Nov 28, 2001
Jackpot:$24,500,000
Federal Tax:37% marginal rate
State Tax: 2.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$436,837$123,268$12,668$300,901
2$454,311$129,384$13,175$311,752
3$472,483$135,744$13,702$323,037
4$491,383$142,359$14,250$334,774
5$511,038$149,238$14,820$346,980
6$531,480$156,393$15,413$359,674
7$552,739$163,833$16,029$372,876
8$574,848$171,572$16,671$386,606
9$597,842$179,620$17,337$400,885
10$621,756$188,237$18,031$415,488
11$646,626$197,439$18,752$430,435
12$672,491$207,009$19,502$445,979
13$699,391$216,962$20,282$462,146
14$727,366$227,313$21,094$478,959
15$756,461$238,078$21,937$496,445
16$786,720$249,274$22,815$514,631
17$818,188$260,917$23,727$533,543
18$850,916$273,027$24,677$553,213
19$884,952$285,620$25,664$573,669
20$920,351$298,717$26,690$594,943
21$957,165$312,339$27,758$617,068
22$995,451$326,505$28,868$640,078
23$1,035,269$341,237$30,023$664,009
24$1,076,680$356,559$31,224$688,897
25$1,119,747$372,494$32,473$714,780
26$1,164,537$389,066$33,772$741,699
27$1,211,119$406,302$35,122$769,695
28$1,259,563$424,226$36,527$798,810
29$1,309,946$442,868$37,988$829,090
30$1,362,344$462,255$39,508$860,581
Total$24,500,000$7,827,855$710,499$15,961,643

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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.