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New Jersey Powerball Jackpot Annuity Payout Schedule for Nov 30, 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 $65,600,000 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 money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Wed, Nov 30, 2022
Jackpot:$65,600,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$987,374$323,516$106,143$557,715
2$1,036,743$341,783$111,450$583,510
3$1,088,580$360,962$117,022$610,595
4$1,143,009$381,101$122,873$639,034
5$1,200,159$402,247$129,017$668,896
6$1,260,167$424,450$135,468$700,250
7$1,323,176$447,763$142,241$733,172
8$1,389,335$472,242$149,353$767,740
9$1,458,801$497,944$156,821$804,036
10$1,531,741$524,932$164,662$842,147
11$1,608,328$553,269$172,895$882,164
12$1,688,745$583,023$181,540$924,181
13$1,773,182$614,265$190,617$968,300
14$1,861,841$647,069$200,148$1,014,624
15$1,954,933$681,513$210,155$1,063,265
16$2,052,680$717,679$220,663$1,114,338
17$2,155,314$755,654$231,696$1,167,964
18$2,263,080$795,527$243,281$1,224,271
19$2,376,234$837,394$255,445$1,283,394
20$2,495,045$881,355$268,217$1,345,473
21$2,619,798$927,513$281,628$1,410,656
22$2,750,787$975,979$295,710$1,479,099
23$2,888,327$1,026,869$310,495$1,550,963
24$3,032,743$1,080,303$326,020$1,626,421
25$3,184,380$1,136,408$342,321$1,705,651
26$3,343,599$1,195,320$359,437$1,788,843
27$3,510,779$1,257,176$377,409$1,876,194
28$3,686,318$1,322,125$396,279$1,967,914
29$3,870,634$1,390,322$416,093$2,064,219
30$4,064,166$1,461,929$436,898$2,165,339
Total$65,600,000$23,017,632$7,051,997$35,530,368

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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.