USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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 prize money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$1,023,565$5,012,048
2$9,997,615$3,662,072$1,074,744$5,260,799
3$10,497,495$3,847,028$1,128,481$5,521,986
4$11,022,371$4,041,232$1,184,905$5,796,234
5$11,573,488$4,245,146$1,244,150$6,084,193
6$12,152,163$4,459,255$1,306,358$6,386,550
7$12,759,772$4,684,071$1,371,675$6,704,026
8$13,397,760$4,920,126$1,440,259$7,037,375
9$14,067,648$5,167,985$1,512,272$7,387,391
10$14,771,030$5,428,236$1,587,886$7,754,908
11$15,509,582$5,701,500$1,667,280$8,140,802
12$16,285,061$5,988,428$1,750,644$8,545,989
13$17,099,314$6,289,701$1,838,176$8,971,437
14$17,954,280$6,606,039$1,930,085$9,418,156
15$18,851,994$6,938,193$2,026,589$9,887,212
16$19,794,594$7,286,955$2,127,919$10,379,720
17$20,784,323$7,653,154$2,234,315$10,896,854
18$21,823,539$8,037,664$2,346,030$11,439,844
19$22,914,716$8,441,400$2,463,332$12,009,984
20$24,060,452$8,865,322$2,586,499$12,608,631
21$25,263,474$9,310,441$2,715,823$13,237,210
22$26,526,648$9,777,815$2,851,615$13,897,219
23$27,852,981$10,268,558$2,994,195$14,590,227
24$29,245,629$10,783,838$3,143,905$15,317,886
25$30,707,911$11,324,882$3,301,100$16,081,928
26$32,243,307$11,892,979$3,466,155$16,884,173
27$33,855,472$12,489,480$3,639,463$17,726,529
28$35,548,245$13,115,806$3,821,436$18,611,003
29$37,325,658$13,773,448$4,012,508$19,539,701
30$39,191,941$14,463,973$4,213,134$20,514,834
Total$632,600,001$232,950,651$68,004,498$331,644,849

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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.