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New Jersey Powerball Jackpot Annuity Payout Schedule for Oct 25, 2023

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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 $103,400,000 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 25, 2023
Jackpot:$103,400,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,556,318$534,026$167,304$854,989
2$1,634,134$562,817$175,669$895,647
3$1,715,841$593,049$184,453$938,339
4$1,801,633$624,792$193,676$983,166
5$1,891,715$658,122$203,359$1,030,233
6$1,986,300$693,119$213,527$1,079,654
7$2,085,616$729,865$224,204$1,131,546
8$2,189,896$768,449$235,414$1,186,033
9$2,299,391$808,962$247,185$1,243,244
10$2,414,361$851,501$259,544$1,303,316
11$2,535,079$896,167$272,521$1,366,391
12$2,661,833$943,066$286,147$1,432,620
13$2,794,924$992,310$300,454$1,502,160
14$2,934,670$1,044,016$315,477$1,575,178
15$3,081,404$1,098,307$331,251$1,651,846
16$3,235,474$1,155,313$347,813$1,732,348
17$3,397,248$1,215,169$365,204$1,816,874
18$3,567,110$1,278,019$383,464$1,905,627
19$3,745,466$1,344,010$402,638$1,998,818
20$3,932,739$1,413,301$422,769$2,096,668
21$4,129,376$1,486,057$443,908$2,199,411
22$4,335,845$1,562,450$466,103$2,307,291
23$4,552,637$1,642,663$489,408$2,420,565
24$4,780,269$1,726,887$513,879$2,539,503
25$5,019,282$1,815,322$539,573$2,664,387
26$5,270,247$1,908,179$566,551$2,795,516
27$5,533,759$2,005,679$594,879$2,933,201
28$5,810,447$2,108,053$624,623$3,077,771
29$6,100,969$2,215,546$655,854$3,229,569
30$6,406,018$2,328,414$688,647$3,388,956
Total$103,400,000$37,003,630$11,115,498$55,280,867

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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.