USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for May 18, 2005

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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 $130,500,000 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, May 18, 2005
Jackpot:$130,500,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,326,828$819,114$250,134$1,257,580
2$2,419,901$853,551$260,139$1,306,211
3$2,516,697$889,366$270,545$1,356,786
4$2,617,365$926,613$281,367$1,409,385
5$2,722,060$965,350$292,621$1,464,088
6$2,830,942$1,005,636$304,326$1,520,979
7$2,944,180$1,047,534$316,499$1,580,146
8$3,061,947$1,091,108$329,159$1,641,679
9$3,184,425$1,136,425$342,326$1,705,674
10$3,311,802$1,183,554$356,019$1,772,229
11$3,444,274$1,232,569$370,259$1,841,445
12$3,582,045$1,283,544$385,070$1,913,431
13$3,725,326$1,336,559$400,473$1,988,295
14$3,874,340$1,391,693$416,492$2,066,155
15$4,029,313$1,449,034$433,151$2,147,128
16$4,190,486$1,508,667$450,477$2,231,341
17$4,358,105$1,570,687$468,496$2,318,922
18$4,532,429$1,635,187$487,236$2,410,007
19$4,713,726$1,702,267$506,726$2,504,734
20$4,902,276$1,772,030$526,995$2,603,251
21$5,098,367$1,844,583$548,074$2,705,709
22$5,302,301$1,920,039$569,997$2,812,265
23$5,514,393$1,998,513$592,797$2,923,083
24$5,734,969$2,080,126$616,509$3,038,334
25$5,964,368$2,165,004$641,170$3,158,194
26$6,202,942$2,253,276$666,816$3,282,850
27$6,451,060$2,345,080$693,489$3,412,491
28$6,709,103$2,440,556$721,229$3,547,318
29$6,977,467$2,539,850$750,078$3,687,539
30$7,256,565$2,643,117$780,081$3,833,368
Total$130,500,000$47,030,632$14,028,750$69,440,617

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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.