USA Mega

New Jersey Powerball Jackpot Annuity Payout Schedule for Jul 29, 2024

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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 $142,600,000 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, Jul 29, 2024
Jackpot:$142,600,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,146,335$752,332$230,731$1,163,272
2$2,253,651$792,039$242,268$1,219,345
3$2,366,334$833,731$254,381$1,278,222
4$2,484,651$877,509$267,100$1,340,042
5$2,608,883$923,475$280,455$1,404,954
6$2,739,327$971,739$294,478$1,473,111
7$2,876,294$1,022,416$309,202$1,544,676
8$3,020,108$1,075,628$324,662$1,619,819
9$3,171,114$1,131,500$340,895$1,698,719
10$3,329,670$1,190,165$357,939$1,781,565
11$3,496,153$1,251,764$375,836$1,868,552
12$3,670,961$1,316,443$394,628$1,959,889
13$3,854,509$1,384,356$414,360$2,055,793
14$4,047,234$1,455,664$435,078$2,156,492
15$4,249,596$1,530,538$456,832$2,262,226
16$4,462,076$1,609,156$479,673$2,373,247
17$4,685,179$1,691,704$503,657$2,489,818
18$4,919,438$1,778,380$528,840$2,612,219
19$5,165,410$1,869,390$555,282$2,740,739
20$5,423,681$1,964,950$583,046$2,875,685
21$5,694,865$2,065,288$612,198$3,017,379
22$5,979,608$2,170,643$642,808$3,166,157
23$6,278,588$2,281,265$674,948$3,322,375
24$6,592,518$2,397,419$708,696$3,486,403
25$6,922,144$2,519,381$744,130$3,658,632
26$7,268,251$2,647,441$781,337$3,839,473
27$7,631,664$2,781,903$820,404$4,029,356
28$8,013,247$2,923,089$861,424$4,228,734
29$8,413,909$3,071,334$904,495$4,438,080
30$8,834,604$3,226,991$949,720$4,657,893
Total$142,600,000$51,507,633$15,329,503$75,762,867

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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.