USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Dec 7, 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 $53,200,000 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, Dec 7, 2011
Jackpot:$53,200,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$948,561$309,155$101,970$537,436
2$986,504$323,194$106,049$557,260
3$1,025,964$337,794$110,291$577,878
4$1,067,002$352,979$114,703$599,321
5$1,109,683$368,770$119,291$621,621
6$1,154,070$385,194$124,063$644,814
7$1,200,233$402,274$129,025$668,934
8$1,248,242$420,037$134,186$694,019
9$1,298,172$438,511$139,553$720,107
10$1,350,098$457,724$145,136$747,239
11$1,404,102$477,706$150,941$775,456
12$1,460,267$498,486$156,979$804,801
13$1,518,677$520,098$163,258$835,321
14$1,579,424$542,575$169,788$867,061
15$1,642,601$565,950$176,580$900,071
16$1,708,305$590,261$183,643$934,402
17$1,776,637$615,544$190,989$970,105
18$1,847,703$641,838$198,628$1,007,237
19$1,921,611$669,184$206,573$1,045,854
20$1,998,476$697,624$214,836$1,086,016
21$2,078,415$727,201$223,430$1,127,784
22$2,161,551$757,962$232,367$1,171,223
23$2,248,013$789,953$241,661$1,216,399
24$2,337,934$823,223$251,328$1,263,383
25$2,431,451$857,825$261,381$1,312,245
26$2,528,709$893,810$271,836$1,363,063
27$2,629,857$931,235$282,710$1,415,913
28$2,735,052$970,157$294,018$1,470,877
29$2,844,454$1,010,636$305,779$1,528,039
30$2,958,232$1,052,734$318,010$1,587,488
Total$53,200,000$18,429,634$5,719,002$29,051,367

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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.