USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Jul 23, 2011

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The tax information provided here is based on 2025 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 $93,600,000 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, Jul 23, 2011
Jackpot:$93,600,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,668,897$574,512$179,406$914,979
2$1,735,653$599,212$186,583$949,859
3$1,805,079$624,900$194,046$986,134
4$1,877,282$651,615$201,808$1,023,860
5$1,952,374$679,399$209,880$1,063,095
6$2,030,469$708,294$218,275$1,103,900
7$2,111,687$738,345$227,006$1,146,336
8$2,196,155$769,598$236,087$1,190,471
9$2,284,001$802,101$245,530$1,236,370
10$2,375,361$835,904$255,351$1,284,106
11$2,470,376$871,059$265,565$1,333,751
12$2,569,191$907,621$276,188$1,385,382
13$2,671,958$945,645$287,236$1,439,078
14$2,778,837$985,190$298,725$1,494,922
15$2,889,990$1,026,317$310,674$1,553,000
16$3,005,590$1,069,088$323,101$1,613,400
17$3,125,813$1,113,571$336,025$1,676,217
18$3,250,846$1,159,833$349,466$1,741,547
19$3,380,880$1,207,946$363,445$1,809,489
20$3,516,115$1,257,983$377,982$1,880,150
21$3,656,759$1,310,021$393,102$1,953,637
22$3,803,030$1,364,141$408,826$2,030,063
23$3,955,151$1,420,426$425,179$2,109,546
24$4,113,357$1,478,962$442,186$2,192,209
25$4,277,891$1,539,840$459,873$2,278,178
26$4,449,007$1,603,153$478,268$2,367,586
27$4,626,967$1,668,998$497,399$2,460,570
28$4,812,046$1,737,477$517,295$2,557,274
29$5,004,528$1,808,696$537,987$2,657,846
30$5,204,709$1,882,763$559,506$2,762,440
Total$93,600,000$33,342,610$10,062,000$50,195,395

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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.