USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$139,177$52,101$293,379
2$508,889$147,658$54,706$306,525
3$534,333$156,564$57,441$320,329
4$561,050$165,915$60,313$334,822
5$589,103$175,733$63,329$350,041
6$618,558$186,042$66,495$366,020
7$649,486$197,330$69,820$382,336
8$681,960$209,345$73,311$399,304
9$716,058$221,962$76,976$417,120
10$751,861$235,209$80,825$435,827
11$789,454$249,118$84,866$455,469
12$828,927$263,723$89,110$476,094
13$870,373$279,058$93,565$497,750
14$913,892$295,160$98,243$520,488
15$959,586$312,067$103,156$544,364
16$1,007,565$329,819$108,313$569,433
17$1,057,944$348,459$113,729$595,755
18$1,110,841$368,031$119,415$623,394
19$1,166,383$388,582$125,386$652,415
20$1,224,702$410,160$131,655$682,887
21$1,285,937$432,817$138,238$714,882
22$1,350,234$456,607$145,150$748,477
23$1,417,746$481,586$152,408$783,752
24$1,488,633$507,814$160,028$820,791
25$1,563,065$535,354$168,029$859,681
26$1,641,218$564,271$176,431$900,516
27$1,723,279$594,633$185,252$943,393
28$1,809,443$626,514$194,515$988,414
29$1,899,915$659,989$204,241$1,035,685
30$1,994,911$695,137$214,453$1,085,321
Total$32,200,000$10,633,834$3,461,500$18,104,664

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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.