USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Oct 16, 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 $60,000,000 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, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$98,436$506,436
2$948,240$314,921$103,358$529,961
3$995,652$332,464$108,526$554,663
4$1,045,435$350,883$113,952$580,599
5$1,097,707$370,224$119,650$607,833
6$1,152,592$390,531$125,633$636,428
7$1,210,222$411,854$131,914$666,453
8$1,270,733$434,243$138,510$697,980
9$1,334,270$457,752$145,435$731,082
10$1,400,983$482,436$152,707$765,840
11$1,471,032$508,354$160,343$802,335
12$1,544,584$535,568$168,360$840,656
13$1,621,813$564,143$176,778$880,892
14$1,702,904$594,147$185,616$923,141
15$1,788,049$625,650$194,897$967,501
16$1,877,451$658,729$204,642$1,014,080
17$1,971,324$693,462$214,874$1,062,987
18$2,069,890$729,932$225,618$1,114,340
19$2,173,384$768,224$236,899$1,168,261
20$2,282,054$808,432$248,744$1,224,878
21$2,396,156$850,650$261,181$1,284,325
22$2,515,964$894,979$274,240$1,346,745
23$2,641,762$941,524$287,952$1,412,286
24$2,773,850$990,397$302,350$1,481,104
25$2,912,543$1,041,713$317,467$1,553,363
26$3,058,170$1,095,595$333,341$1,629,234
27$3,211,079$1,152,171$350,008$1,708,900
28$3,371,633$1,211,576$367,508$1,792,548
29$3,540,214$1,273,951$385,883$1,880,379
30$3,717,225$1,339,445$405,178$1,972,602
Total$60,000,000$21,122,164$6,540,000$32,337,832

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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.