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 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 $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$2,546,673$752,060$3,697,174
2$7,345,702$2,676,098$789,663$3,879,942
3$7,712,987$2,811,993$829,146$4,071,848
4$8,098,637$2,954,683$870,603$4,273,350
5$8,503,569$3,104,508$914,134$4,484,927
6$8,928,747$3,261,824$959,840$4,707,083
7$9,375,185$3,427,006$1,007,832$4,940,346
8$9,843,944$3,600,447$1,058,224$5,185,273
9$10,336,141$3,782,560$1,111,135$5,442,446
10$10,852,948$3,973,779$1,166,692$5,712,478
11$11,395,595$4,174,558$1,225,027$5,996,011
12$11,965,375$4,385,377$1,286,278$6,293,721
13$12,563,644$4,606,736$1,350,592$6,606,316
14$13,191,826$4,839,163$1,418,121$6,934,541
15$13,851,417$5,083,212$1,489,027$7,279,178
16$14,543,988$5,339,463$1,563,479$7,641,046
17$15,271,188$5,608,527$1,641,653$8,021,008
18$16,034,747$5,891,044$1,723,735$8,419,968
19$16,836,484$6,187,687$1,809,922$8,838,875
20$17,678,309$6,499,162$1,900,418$9,278,729
21$18,562,224$6,826,211$1,995,439$9,740,574
22$19,490,335$7,169,612$2,095,211$10,225,512
23$20,464,852$7,530,183$2,199,972$10,734,697
24$21,488,094$7,908,783$2,309,970$11,269,342
25$22,562,499$8,306,312$2,425,469$11,830,718
26$23,690,625$8,723,719$2,546,742$12,420,164
27$24,875,156$9,161,995$2,674,079$13,039,081
28$26,118,913$9,622,186$2,807,783$13,688,944
29$27,424,859$10,105,386$2,948,172$14,371,301
30$28,796,102$10,612,746$3,095,581$15,087,776
Total$464,800,001$170,721,633$49,965,999$244,112,369

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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.