USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Sep 20, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $677,100,000 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, Sep 20, 2023
Jackpot:$677,100,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,191,327$3,728,979$1,095,568$5,366,780
2$10,700,893$3,917,518$1,150,346$5,633,029
3$11,235,938$4,115,485$1,207,863$5,912,590
4$11,797,735$4,323,350$1,268,256$6,206,129
5$12,387,621$4,541,608$1,331,669$6,514,344
6$13,007,002$4,770,779$1,398,253$6,837,971
7$13,657,353$5,011,408$1,468,165$7,177,779
8$14,340,220$5,264,069$1,541,574$7,534,577
9$15,057,231$5,529,363$1,618,652$7,909,216
10$15,810,093$5,807,922$1,699,585$8,302,586
11$16,600,597$6,100,409$1,784,564$8,715,624
12$17,430,627$6,407,520$1,873,792$9,149,315
13$18,302,159$6,729,986$1,967,482$9,604,690
14$19,217,267$7,068,576$2,065,856$10,082,834
15$20,178,130$7,424,096$2,169,149$10,584,885
16$21,187,037$7,797,391$2,277,606$11,112,039
17$22,246,388$8,189,351$2,391,487$11,665,550
18$23,358,708$8,600,910$2,511,061$12,246,737
19$24,526,643$9,033,046$2,636,614$12,856,983
20$25,752,975$9,486,789$2,768,445$13,497,742
21$27,040,624$9,963,218$2,906,867$14,170,538
22$28,392,655$10,463,470$3,052,210$14,876,974
23$29,812,288$10,988,734$3,204,821$15,618,733
24$31,302,902$11,540,261$3,365,062$16,397,578
25$32,868,047$12,119,365$3,533,315$17,215,367
26$34,511,450$12,727,424$3,709,981$18,074,045
27$36,237,022$13,365,886$3,895,480$18,975,656
28$38,048,873$14,036,271$4,090,254$19,922,348
29$39,951,317$14,740,175$4,294,767$20,916,375
30$41,948,883$15,479,274$4,509,505$21,960,103
Total$677,100,001$249,272,633$72,788,249$355,039,117

◄ Back to Jackpot Analysis

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.