USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Jan 4, 2012

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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 $31,700,000 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, Jan 4, 2012
Jackpot:$31,700,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$565,214$168,200$60,761$336,254
2$587,823$176,113$63,191$348,519
3$611,336$184,382$65,719$361,235
4$635,789$193,430$68,347$374,012
5$661,221$202,839$71,081$387,300
6$687,669$212,625$73,924$401,120
7$715,176$222,803$76,881$415,492
8$743,783$233,388$79,957$430,439
9$773,535$244,396$83,155$445,984
10$804,476$255,844$86,481$462,151
11$836,655$267,750$89,940$478,964
12$870,121$280,133$93,538$496,451
13$904,926$293,010$97,280$514,636
14$941,123$306,403$101,171$533,549
15$978,768$320,332$105,218$553,219
16$1,017,919$334,818$109,426$573,675
17$1,058,635$349,883$113,803$594,949
18$1,100,981$365,551$118,355$617,075
19$1,145,020$381,845$123,090$640,085
20$1,190,821$398,792$128,013$664,016
21$1,238,454$416,416$133,134$688,904
22$1,287,992$434,745$138,459$714,788
23$1,339,512$453,807$143,997$741,707
24$1,393,092$473,632$149,757$769,703
25$1,448,816$494,250$155,748$798,818
26$1,506,768$515,692$161,978$829,099
27$1,567,039$537,992$168,457$860,590
28$1,629,721$561,184$175,195$893,341
29$1,694,910$585,304$182,203$927,402
30$1,762,706$610,389$189,491$962,826
Total$31,700,000$10,475,948$3,407,750$17,816,303

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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.