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New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 22, 2011

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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 $148,600,000 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:Sat, Oct 22, 2011
Jackpot:$148,600,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,649,553$938,522$284,827$1,426,204
2$2,755,535$977,736$296,220$1,481,579
3$2,865,756$1,018,518$308,069$1,539,170
4$2,980,386$1,060,931$320,392$1,599,064
5$3,099,602$1,105,040$333,207$1,661,354
6$3,223,586$1,150,915$346,535$1,726,136
7$3,352,529$1,198,624$360,397$1,793,509
8$3,486,631$1,248,241$374,813$1,863,577
9$3,626,096$1,299,843$389,805$1,936,447
10$3,771,140$1,353,509$405,398$2,012,233
11$3,921,985$1,409,322$421,613$2,091,050
12$4,078,865$1,467,368$438,478$2,173,019
13$4,242,019$1,527,735$456,017$2,258,267
14$4,411,700$1,590,517$474,258$2,346,926
15$4,588,168$1,655,810$493,228$2,439,130
16$4,771,695$1,723,715$512,957$2,535,023
17$4,962,563$1,794,336$533,475$2,634,751
18$5,161,065$1,867,782$554,814$2,738,469
19$5,367,508$1,944,166$577,007$2,846,335
20$5,582,208$2,023,605$600,087$2,958,516
21$5,805,496$2,106,221$624,091$3,075,184
22$6,037,716$2,192,143$649,054$3,196,519
23$6,279,225$2,281,501$675,017$3,322,707
24$6,530,394$2,374,433$702,017$3,453,943
25$6,791,610$2,471,083$730,098$3,590,428
26$7,063,274$2,571,599$759,302$3,732,373
27$7,345,805$2,676,136$789,674$3,879,995
28$7,639,637$2,784,853$821,261$4,033,523
29$7,945,223$2,897,920$854,111$4,193,191
30$8,263,031$3,015,509$888,276$4,359,246
Total$148,600,000$53,727,633$15,974,498$78,897,868

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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.