USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 11, 2023

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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 $1,764,900,000 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, Oct 11, 2023
Jackpot:$1,764,900,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$26,564,278$9,785,803$2,855,660$13,922,815
2$27,892,492$10,277,242$2,998,443$14,616,807
3$29,287,116$10,793,253$3,148,365$15,345,498
4$30,751,473$11,335,065$3,305,783$16,110,624
5$32,289,045$11,903,967$3,471,072$16,914,006
6$33,903,498$12,501,314$3,644,626$17,757,557
7$35,598,674$13,128,530$3,826,857$18,643,287
8$37,378,607$13,787,105$4,018,200$19,573,302
9$39,247,537$14,478,609$4,219,110$20,549,818
10$41,209,914$15,204,688$4,430,066$21,575,160
11$43,270,410$15,967,072$4,651,569$22,651,769
12$45,433,930$16,767,574$4,884,147$23,782,208
13$47,705,626$17,608,102$5,128,355$24,969,170
14$50,090,908$18,490,656$5,384,773$26,215,479
15$52,595,453$19,417,338$5,654,011$27,524,104
16$55,225,226$20,390,354$5,936,712$28,898,161
17$57,986,487$21,412,020$6,233,547$30,340,919
18$60,885,811$22,484,770$6,545,225$31,855,816
19$63,930,102$23,611,158$6,872,486$33,446,458
20$67,126,607$24,793,865$7,216,110$35,116,632
21$70,482,937$26,035,707$7,576,916$36,870,314
22$74,007,084$27,339,641$7,955,762$38,711,681
23$77,707,439$28,708,773$8,353,550$40,645,116
24$81,592,810$30,146,360$8,771,227$42,675,223
25$85,672,450$31,655,827$9,209,788$44,806,835
26$89,956,074$33,240,768$9,670,278$47,045,028
27$94,453,878$34,904,955$10,153,792$49,395,131
28$99,176,570$36,652,351$10,661,481$51,862,738
29$104,135,399$38,487,118$11,194,555$54,453,726
30$109,342,170$40,413,623$11,754,283$57,174,263
Total$1,764,900,004$651,723,608$189,726,749$923,449,645

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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.