USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Jan 23, 2021

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The tax information provided here is based on 2021 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 $20,000,000 for a ticket purchased in New York, 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 prize money, as well as deductions claimed.

State:

New York

Drawing Date:Sat, Jan 23, 2021
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 9.62%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$28,959$192,165
2$316,080$85,172$30,407$200,501
3$331,884$90,704$31,927$209,253
4$348,478$96,512$33,524$218,443
5$365,902$102,610$35,200$228,092
6$384,197$109,013$36,960$238,224
7$403,407$115,737$38,808$248,863
8$423,578$122,796$40,748$260,033
9$444,757$130,209$42,786$271,762
10$466,994$137,992$44,925$284,077
11$490,344$146,165$47,171$297,008
12$514,861$154,746$49,530$310,586
13$540,604$164,096$52,006$324,502
14$567,635$174,097$54,606$338,931
15$596,016$184,598$57,337$354,081
16$625,817$195,625$60,204$369,989
17$657,108$207,202$63,214$386,692
18$689,963$219,359$66,374$404,230
19$724,461$232,123$69,693$422,645
20$760,685$245,526$73,178$441,981
21$798,719$259,598$76,837$462,284
22$838,655$274,374$80,679$483,602
23$880,587$289,890$84,713$505,985
24$924,617$306,180$88,948$529,488
25$970,848$323,286$93,396$554,166
26$1,019,390$341,247$98,065$580,078
27$1,070,360$360,105$102,969$607,286
28$1,123,878$379,907$108,117$635,854
29$1,180,071$400,699$113,523$665,850
30$1,239,075$422,530$119,199$697,346
Total$20,000,000$6,352,002$1,924,003$11,723,997

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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.