USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Dec 28, 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 $20,000,000 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, Dec 28, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$38,335$223,082
2$370,866$100,178$39,868$230,820
3$385,701$105,370$41,463$238,868
4$401,129$110,770$43,121$247,238
5$417,174$116,386$44,846$255,942
6$433,861$122,226$46,640$264,995
7$451,215$128,300$48,506$274,410
8$469,264$134,617$50,446$284,201
9$488,034$141,187$52,464$294,384
10$507,556$148,019$54,562$304,974
11$527,858$155,125$56,745$315,988
12$548,972$162,515$59,015$327,443
13$570,931$170,201$61,375$339,355
14$593,769$178,194$63,830$351,745
15$617,519$186,670$66,383$364,466
16$642,220$195,809$69,039$377,372
17$667,909$205,314$71,800$390,795
18$694,625$215,199$74,672$404,754
19$722,410$225,480$77,659$419,272
20$751,307$236,171$80,765$434,370
21$781,359$247,291$83,996$450,072
22$812,613$258,855$87,356$466,403
23$845,118$270,881$90,850$483,386
24$878,922$283,389$94,484$501,049
25$914,079$296,397$98,264$519,419
26$950,643$309,925$102,194$538,523
27$988,668$323,995$106,282$558,391
28$1,028,215$338,627$110,533$579,055
29$1,069,344$353,845$114,954$600,544
30$1,112,117$369,671$119,553$622,894
Total$20,000,000$6,185,792$2,150,000$11,664,210

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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.