USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Sep 27, 1997

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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 $8,000,000 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 money, as well as deductions claimed.

State:

New York

Drawing Date:Sat, Sep 27, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$142,641$27,276$15,548$99,817
2$148,346$28,646$16,170$103,531
3$154,280$30,070$16,817$107,394
4$160,451$31,551$17,489$111,411
5$166,870$33,091$18,189$115,590
6$173,544$34,693$18,916$119,935
7$180,486$36,359$19,673$124,454
8$187,706$38,092$20,460$129,154
9$195,214$40,155$21,278$133,781
10$203,022$42,654$22,129$138,239
11$211,143$45,252$23,015$142,876
12$219,589$47,955$23,935$147,699
13$228,373$50,766$24,893$152,714
14$237,507$53,689$25,888$157,930
15$247,008$56,827$26,924$163,256
16$256,888$60,286$28,001$168,602
17$267,164$63,882$29,121$174,161
18$277,850$67,622$30,286$179,942
19$288,964$71,512$31,497$185,955
20$300,523$75,558$32,757$192,208
21$312,544$79,765$34,067$198,711
22$325,045$84,141$35,430$205,475
23$338,047$88,691$36,847$212,509
24$351,569$93,424$38,321$219,824
25$365,632$98,346$39,854$227,432
26$380,257$103,465$41,448$235,344
27$395,467$108,788$43,106$243,573
28$411,286$114,325$44,830$252,131
29$427,737$120,083$46,623$261,031
30$444,847$126,071$48,488$270,287
Total$8,000,000$1,953,035$872,000$5,174,966

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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.