USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Nov 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 $337,900,000 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:Sat, Nov 25, 2023
Jackpot:$337,900,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,085,880$1,839,963$546,732$2,699,184
2$5,340,174$1,934,052$574,069$2,832,053
3$5,607,183$2,032,845$602,772$2,971,565
4$5,887,542$2,136,578$632,911$3,118,053
5$6,181,919$2,245,498$664,556$3,271,865
6$6,491,015$2,359,863$697,784$3,433,367
7$6,815,566$2,479,947$732,673$3,602,945
8$7,156,344$2,606,035$769,307$3,781,002
9$7,514,161$2,738,427$807,772$3,967,961
10$7,889,869$2,877,439$848,161$4,164,269
11$8,284,363$3,023,402$890,569$4,370,392
12$8,698,581$3,176,663$935,097$4,586,821
13$9,133,510$3,337,586$981,852$4,814,071
14$9,590,185$3,506,556$1,030,945$5,052,684
15$10,069,694$3,683,975$1,082,492$5,303,228
16$10,573,179$3,870,264$1,136,617$5,566,298
17$11,101,838$4,065,868$1,193,448$5,842,523
18$11,656,930$4,271,252$1,253,120$6,132,558
19$12,239,776$4,486,905$1,315,776$6,437,095
20$12,851,765$4,713,341$1,381,565$6,756,860
21$13,494,353$4,951,099$1,450,643$7,092,612
22$14,169,071$5,200,744$1,523,175$7,445,152
23$14,877,525$5,462,872$1,599,334$7,815,319
24$15,621,401$5,738,106$1,679,301$8,203,994
25$16,402,471$6,027,102$1,763,266$8,612,103
26$17,222,595$6,330,548$1,851,429$9,040,618
27$18,083,724$6,649,166$1,944,000$9,490,558
28$18,987,910$6,983,715$2,041,200$9,962,995
29$19,937,306$7,334,991$2,143,260$10,459,055
30$20,934,171$7,703,831$2,250,423$10,979,917
Total$337,900,001$123,768,633$36,324,249$177,807,117

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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.