USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Sep 24, 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 $30,000,000 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:Sat, Sep 24, 2011
Jackpot:$30,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$156,763$57,502$320,638
2$556,299$164,252$59,802$332,245
3$578,551$172,040$62,194$344,317
4$601,693$180,140$64,682$356,871
5$625,761$188,564$67,269$369,928
6$650,791$197,813$69,960$383,018
7$676,823$207,445$72,758$396,620
8$703,896$217,462$75,669$410,765
9$732,052$227,879$78,696$425,477
10$761,334$238,714$81,843$440,777
11$791,787$249,981$85,117$456,688
12$823,459$261,700$88,522$473,237
13$856,397$273,887$92,063$490,447
14$890,653$286,562$95,745$508,346
15$926,279$299,743$99,575$526,960
16$963,330$313,452$103,558$546,320
17$1,001,863$327,710$107,700$566,453
18$1,041,938$342,537$112,008$587,392
19$1,083,615$357,958$116,489$609,169
20$1,126,960$373,995$121,148$631,816
21$1,172,038$390,674$125,994$655,370
22$1,218,920$408,021$131,034$679,865
23$1,267,677$426,061$136,275$705,341
24$1,318,384$444,822$141,726$731,835
25$1,371,119$464,334$147,395$759,389
26$1,425,964$484,627$153,291$788,046
27$1,483,002$505,731$159,423$817,848
28$1,542,322$527,680$165,800$848,843
29$1,604,015$550,506$172,432$881,078
30$1,668,176$574,245$179,329$914,602
Total$30,000,000$9,815,298$3,224,999$16,959,701

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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.