USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Jun 29, 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 $77,100,000 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, Jun 29, 2011
Jackpot:$77,100,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,374,701$466,827$147,780$760,093
2$1,429,689$487,173$153,692$788,825
3$1,486,876$508,332$159,839$818,705
4$1,546,351$530,338$166,233$849,781
5$1,608,205$553,224$172,882$882,100
6$1,672,534$577,025$179,797$915,711
7$1,739,435$601,779$186,989$950,667
8$1,809,012$627,522$194,469$987,021
9$1,881,373$654,296$202,248$1,024,830
10$1,956,628$682,140$210,337$1,064,150
11$2,034,893$711,098$218,751$1,105,044
12$2,116,288$741,214$227,501$1,147,573
13$2,200,940$772,536$236,601$1,191,803
14$2,288,978$805,109$246,065$1,237,803
15$2,380,537$838,986$255,908$1,285,643
16$2,475,758$874,218$266,144$1,335,396
17$2,574,789$910,860$276,790$1,387,139
18$2,677,780$948,966$287,861$1,440,952
19$2,784,891$988,598$299,376$1,496,918
20$2,896,287$1,029,814$311,351$1,555,122
21$3,012,138$1,072,679$323,805$1,615,655
22$3,132,624$1,117,259$336,757$1,678,608
23$3,257,929$1,163,621$350,227$1,744,080
24$3,388,246$1,211,839$364,236$1,812,171
25$3,523,776$1,261,985$378,806$1,882,985
26$3,664,727$1,314,137$393,958$1,956,632
27$3,811,316$1,368,375$409,716$2,033,225
28$3,963,769$1,424,782$426,105$2,112,881
29$4,122,319$1,483,446$443,149$2,195,724
30$4,287,212$1,544,456$460,875$2,281,881
Total$77,100,000$27,272,634$8,288,248$41,539,118

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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.