USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Sep 21, 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 $25,000,000 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, Sep 21, 2011
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$445,752$126,388$47,918$271,446
2$463,583$132,629$49,835$281,119
3$482,126$139,119$51,829$291,179
4$501,411$145,869$53,902$301,641
5$521,467$152,888$56,058$312,521
6$542,326$160,189$58,300$323,837
7$564,019$167,781$60,632$335,606
8$586,580$175,678$63,057$347,845
9$610,043$183,904$65,580$360,560
10$634,445$192,932$68,203$373,310
11$659,823$202,322$70,931$386,570
12$686,215$212,087$73,768$400,360
13$713,664$222,243$76,719$414,702
14$742,211$232,806$79,788$429,617
15$771,899$243,790$82,979$445,130
16$802,775$255,215$86,298$461,262
17$834,886$267,096$89,750$478,040
18$868,281$279,452$93,340$495,489
19$903,013$292,302$97,074$513,636
20$939,133$305,667$100,957$532,509
21$976,699$319,566$104,995$552,137
22$1,015,767$334,021$109,195$572,550
23$1,056,397$349,055$113,563$593,780
24$1,098,653$364,689$118,105$615,858
25$1,142,599$380,949$122,829$638,820
26$1,188,303$397,860$127,743$662,701
27$1,235,835$415,447$132,852$687,536
28$1,285,269$433,737$138,166$713,365
29$1,336,679$452,759$143,693$740,227
30$1,390,147$472,542$149,441$768,164
Total$25,000,000$8,010,982$2,687,500$14,301,517

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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.