USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Mar 27, 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 $122,200,000 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:Mon, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$638,723$197,723$1,002,839
2$1,931,250$672,750$207,609$1,050,890
3$2,027,812$708,478$217,990$1,101,344
4$2,129,203$745,993$228,889$1,154,321
5$2,235,663$785,383$240,334$1,209,946
6$2,347,446$826,743$252,350$1,268,353
7$2,464,818$870,171$264,968$1,329,680
8$2,588,059$915,770$278,216$1,394,073
9$2,717,462$963,649$292,127$1,461,686
10$2,853,335$1,013,922$306,734$1,532,680
11$2,996,002$1,066,709$322,070$1,607,223
12$3,145,802$1,122,135$338,174$1,685,494
13$3,303,092$1,180,332$355,082$1,767,678
14$3,468,247$1,241,439$372,837$1,853,971
15$3,641,659$1,305,602$391,478$1,944,579
16$3,823,742$1,372,972$411,052$2,039,718
17$4,014,929$1,443,712$431,605$2,139,613
18$4,215,676$1,517,988$453,185$2,244,503
19$4,426,460$1,595,978$475,844$2,354,637
20$4,647,783$1,677,867$499,637$2,470,279
21$4,880,172$1,763,851$524,618$2,591,702
22$5,124,180$1,854,134$550,849$2,719,196
23$5,380,389$1,948,932$578,392$2,853,066
24$5,649,409$2,048,469$607,311$2,993,628
25$5,931,879$2,152,983$637,677$3,141,219
26$6,228,473$2,262,723$669,561$3,296,189
27$6,539,897$2,377,950$703,039$3,458,908
28$6,866,892$2,498,938$738,191$3,629,763
29$7,210,236$2,625,975$775,100$3,809,161
30$7,570,748$2,759,365$813,855$3,997,528
Total$122,200,000$43,959,636$13,136,497$65,103,867

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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.