USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 15, 2022

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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 $464,800,000 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, Oct 15, 2022
Jackpot:$464,800,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,995,907$2,545,506$752,060$3,698,341
2$7,345,702$2,674,930$789,663$3,881,109
3$7,712,987$2,810,826$829,146$4,073,016
4$8,098,637$2,953,516$870,603$4,274,518
5$8,503,569$3,103,341$914,134$4,486,094
6$8,928,747$3,260,657$959,840$4,708,250
7$9,375,185$3,425,839$1,007,832$4,941,514
8$9,843,944$3,599,279$1,058,224$5,186,440
9$10,336,141$3,781,392$1,111,135$5,443,613
10$10,852,948$3,972,611$1,166,692$5,713,645
11$11,395,595$4,173,391$1,225,027$5,997,178
12$11,965,375$4,384,209$1,286,278$6,294,888
13$12,563,644$4,605,569$1,350,592$6,607,484
14$13,191,826$4,837,996$1,418,121$6,935,709
15$13,851,417$5,082,045$1,489,027$7,280,345
16$14,543,988$5,338,296$1,563,479$7,642,214
17$15,271,188$5,607,360$1,641,653$8,022,175
18$16,034,747$5,889,877$1,723,735$8,421,135
19$16,836,484$6,186,519$1,809,922$8,840,043
20$17,678,309$6,497,994$1,900,418$9,279,896
21$18,562,224$6,825,043$1,995,439$9,741,742
22$19,490,335$7,168,444$2,095,211$10,226,680
23$20,464,852$7,529,016$2,199,972$10,735,865
24$21,488,094$7,907,615$2,309,970$11,270,509
25$22,562,499$8,305,145$2,425,469$11,831,886
26$23,690,625$8,722,551$2,546,742$12,421,331
27$24,875,156$9,160,828$2,674,079$13,040,249
28$26,118,913$9,621,018$2,807,783$13,690,112
29$27,424,859$10,104,218$2,948,172$14,372,469
30$28,796,102$10,611,578$3,095,581$15,088,943
Total$464,800,001$170,686,609$49,965,999$244,147,393

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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.