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New Jersey Powerball Jackpot Annuity Payout Schedule for Jun 20, 2015

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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 $80,000,000 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, Jun 20, 2015
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,426,408$485,959$153,339$787,110
2$1,483,464$507,070$159,472$816,922
3$1,542,803$529,025$165,851$847,927
4$1,604,515$551,858$172,485$880,171
5$1,668,696$575,605$179,385$913,706
6$1,735,443$600,302$186,560$948,581
7$1,804,861$625,986$194,023$984,852
8$1,877,056$652,698$201,783$1,022,574
9$1,952,138$680,479$209,855$1,061,804
10$2,030,223$709,370$218,249$1,102,604
11$2,111,432$739,418$226,979$1,145,036
12$2,195,889$770,667$236,058$1,189,165
13$2,283,725$803,166$245,500$1,235,059
14$2,375,074$836,965$255,320$1,282,788
15$2,470,077$872,116$265,533$1,332,427
16$2,568,880$908,673$276,155$1,384,052
17$2,671,635$946,693$287,201$1,437,742
18$2,778,501$986,233$298,689$1,493,579
19$2,889,641$1,027,355$310,636$1,551,650
20$3,005,226$1,070,122$323,062$1,612,043
21$3,125,435$1,114,599$335,984$1,674,852
22$3,250,453$1,160,855$349,424$1,740,174
23$3,380,471$1,208,962$363,401$1,808,108
24$3,515,690$1,258,993$377,937$1,878,760
25$3,656,317$1,311,025$393,054$1,952,238
26$3,802,570$1,365,139$408,776$2,028,655
27$3,954,673$1,421,417$425,127$2,108,129
28$4,112,860$1,479,946$442,132$2,190,781
29$4,277,374$1,540,816$459,818$2,276,740
30$4,448,469$1,604,121$478,210$2,366,137
Total$80,000,000$28,345,633$8,599,998$43,054,366

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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.