USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Sep 11, 2002

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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 $87,000,000 for a ticket purchased in New Jersey, 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:

New Jersey

Drawing Date:Wed, Sep 11, 2002
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,551,219$532,139$166,756$852,324
2$1,613,267$555,097$173,426$884,744
3$1,677,798$578,973$180,363$918,462
4$1,744,910$603,804$187,578$953,528
5$1,814,706$629,629$195,081$989,996
6$1,887,295$656,487$202,884$1,027,924
7$1,962,786$684,419$211,000$1,067,368
8$2,041,298$713,468$219,440$1,108,390
9$2,122,950$743,679$228,217$1,151,054
10$2,207,868$775,099$237,346$1,195,423
11$2,296,183$807,775$246,840$1,241,568
12$2,388,030$841,759$256,713$1,289,558
13$2,483,551$877,102$266,982$1,339,468
14$2,582,893$913,858$277,661$1,391,374
15$2,686,209$952,085$288,767$1,445,356
16$2,793,657$991,841$300,318$1,501,498
17$2,905,403$1,033,187$312,331$1,559,886
18$3,021,620$1,076,187$324,824$1,620,608
19$3,142,484$1,120,907$337,817$1,683,760
20$3,268,184$1,167,416$351,330$1,749,438
21$3,398,911$1,215,785$365,383$1,817,743
22$3,534,867$1,266,089$379,998$1,888,781
23$3,676,262$1,318,405$395,198$1,962,659
24$3,823,313$1,372,813$411,006$2,039,493
25$3,976,245$1,429,398$427,446$2,119,400
26$4,135,295$1,488,247$444,544$2,202,504
27$4,300,707$1,549,449$462,326$2,288,932
28$4,472,735$1,613,100$480,819$2,378,816
29$4,651,644$1,679,296$500,052$2,472,296
30$4,837,710$1,748,141$520,054$2,569,516
Total$87,000,000$30,935,634$9,352,500$46,711,867

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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.