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New Jersey Powerball Jackpot Annuity Payout Schedule for Dec 17, 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 $89,700,000 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, Dec 17, 2011
Jackpot:$89,700,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,599,360$549,951$171,931$877,478
2$1,663,334$573,621$178,808$910,904
3$1,729,868$598,239$185,961$945,668
4$1,799,062$623,841$193,399$981,822
5$1,871,025$650,467$201,135$1,019,423
6$1,945,866$678,158$209,181$1,058,527
7$2,023,700$706,957$217,548$1,099,196
8$2,104,649$736,908$226,250$1,141,491
9$2,188,834$768,056$235,300$1,185,478
10$2,276,388$800,451$244,712$1,231,225
11$2,367,443$834,142$254,500$1,278,801
12$2,462,141$869,180$264,680$1,328,281
13$2,560,627$905,620$275,267$1,379,740
14$2,663,052$943,517$286,278$1,433,257
15$2,769,574$982,930$297,729$1,488,915
16$2,880,357$1,023,920$309,638$1,546,799
17$2,995,571$1,066,549$322,024$1,606,998
18$3,115,394$1,110,884$334,905$1,669,606
19$3,240,010$1,156,991$348,301$1,734,717
20$3,369,610$1,204,943$362,233$1,802,434
21$3,504,394$1,254,814$376,722$1,872,858
22$3,644,570$1,306,679$391,791$1,946,100
23$3,790,353$1,360,618$407,463$2,022,272
24$3,941,967$1,416,716$423,761$2,101,490
25$4,099,646$1,475,057$440,712$2,183,877
26$4,263,632$1,535,731$458,340$2,269,560
27$4,434,177$1,598,833$476,674$2,358,670
28$4,611,544$1,664,459$495,741$2,451,344
29$4,796,006$1,732,710$515,571$2,547,725
30$4,987,846$1,803,691$536,193$2,647,962
Total$89,700,000$31,934,633$9,642,748$48,122,618

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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.