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New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 1, 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 $325,400,000 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:Sat, Oct 1, 2022
Jackpot:$325,400,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,897,737$1,775,118$526,507$2,596,113
2$5,142,624$1,865,726$552,832$2,724,066
3$5,399,755$1,960,864$580,474$2,858,417
4$5,669,743$2,060,760$609,497$2,999,486
5$5,953,230$2,165,650$639,972$3,147,608
6$6,250,891$2,275,785$671,971$3,303,136
7$6,563,436$2,391,426$705,569$3,466,440
8$6,891,608$2,512,850$740,848$3,637,910
9$7,236,188$2,640,345$777,890$3,817,953
10$7,597,998$2,774,214$816,785$4,006,999
11$7,977,898$2,914,777$857,624$4,205,496
12$8,376,792$3,062,368$900,505$4,413,919
13$8,795,632$3,217,339$945,530$4,632,763
14$9,235,414$3,380,058$992,807$4,862,549
15$9,697,184$3,550,913$1,042,447$5,103,824
16$10,182,044$3,730,311$1,094,570$5,357,163
17$10,691,146$3,918,679$1,149,298$5,623,169
18$11,225,703$4,116,465$1,206,763$5,902,475
19$11,786,988$4,324,141$1,267,101$6,195,746
20$12,376,337$4,542,200$1,330,456$6,503,681
21$12,995,154$4,771,162$1,396,979$6,827,013
22$13,644,912$5,011,572$1,466,828$7,166,512
23$14,327,158$5,264,003$1,540,169$7,522,985
24$15,043,515$5,529,056$1,617,178$7,897,282
25$15,795,691$5,807,361$1,698,037$8,290,294
26$16,585,476$6,099,581$1,782,939$8,702,956
27$17,414,750$6,406,412$1,872,086$9,136,252
28$18,285,487$6,728,585$1,965,690$9,591,212
29$19,199,761$7,066,867$2,063,974$10,068,920
30$20,159,750$7,422,062$2,167,173$10,570,514
Total$325,400,001$119,286,650$34,980,499$171,132,853

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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.