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New Jersey Powerball Jackpot Annuity Payout Schedule for Apr 20, 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 $57,300,000 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, Apr 20, 2011
Jackpot:$57,300,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,021,665$336,204$109,829$575,632
2$1,062,531$351,324$114,222$596,985
3$1,105,033$367,050$118,791$619,192
4$1,149,234$383,404$123,543$642,287
5$1,195,203$400,413$128,484$666,306
6$1,243,011$418,102$133,624$691,286
7$1,292,732$436,498$138,969$717,265
8$1,344,441$455,631$144,527$744,283
9$1,398,219$475,529$150,309$772,382
10$1,454,147$496,222$156,321$801,604
11$1,512,313$517,744$162,574$831,996
12$1,572,806$540,126$169,077$863,603
13$1,635,718$563,403$175,840$896,475
14$1,701,147$587,612$182,873$930,661
15$1,769,193$612,789$190,188$966,215
16$1,839,960$638,973$197,796$1,003,192
17$1,913,559$666,205$205,708$1,041,647
18$1,990,101$694,525$213,936$1,081,640
19$2,069,705$723,979$222,493$1,123,233
20$2,152,493$754,610$231,393$1,166,490
21$2,238,593$786,467$240,649$1,211,477
22$2,328,137$819,598$250,275$1,258,264
23$2,421,262$854,055$260,286$1,306,922
24$2,518,113$889,889$270,697$1,357,526
25$2,618,837$927,158$281,525$1,410,155
26$2,723,591$965,916$292,786$1,464,888
27$2,832,534$1,006,225$304,497$1,521,812
28$2,945,836$1,048,147$316,677$1,581,011
29$3,063,669$1,091,745$329,344$1,642,579
30$3,186,216$1,137,088$342,518$1,706,610
Total$57,300,000$19,946,631$6,159,751$31,193,618

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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.