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New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 5, 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 $60,200,000 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, Oct 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$115,387$602,649
2$1,116,307$371,221$120,003$625,083
3$1,160,959$387,743$124,803$648,413
4$1,207,397$404,925$129,795$672,677
5$1,255,693$422,794$134,987$697,912
6$1,305,921$441,379$140,387$724,156
7$1,358,158$460,706$146,002$751,450
8$1,412,484$480,807$151,842$779,835
9$1,468,984$501,712$157,916$809,356
10$1,527,743$523,453$164,232$840,058
11$1,588,853$546,063$170,802$871,988
12$1,652,407$569,578$177,634$905,195
13$1,718,503$594,034$184,739$939,730
14$1,787,243$619,468$192,129$975,647
15$1,858,733$645,919$199,814$1,013,000
16$1,933,082$673,428$207,806$1,051,848
17$2,010,406$702,038$216,119$1,092,249
18$2,090,822$731,792$224,763$1,134,267
19$2,174,455$762,736$233,754$1,177,965
20$2,261,433$794,918$243,104$1,223,411
21$2,351,890$828,387$252,828$1,270,675
22$2,445,966$863,195$262,941$1,319,829
23$2,543,804$899,395$273,459$1,370,950
24$2,645,557$937,044$284,397$1,424,116
25$2,751,379$976,198$295,773$1,479,408
26$2,861,434$1,016,918$307,604$1,536,912
27$2,975,891$1,059,268$319,908$1,596,715
28$3,094,927$1,103,311$332,705$1,658,912
29$3,218,724$1,149,116$346,013$1,723,596
30$3,347,473$1,196,753$359,853$1,790,867
Total$60,200,000$21,019,634$6,471,499$32,708,869

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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.