USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Oct 2, 2002

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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 $22,100,000 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:Wed, Oct 2, 2002
Jackpot:$22,100,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$394,045$108,291$42,951$242,804
2$409,807$113,807$44,669$251,331
3$426,199$119,544$46,456$260,199
4$443,247$125,511$48,314$269,422
5$460,977$131,717$50,247$279,014
6$479,416$138,170$52,256$288,989
7$498,593$144,882$54,347$299,364
8$518,537$151,863$56,520$310,154
9$539,278$159,122$58,781$321,375
10$560,849$166,672$61,133$333,045
11$583,283$174,524$63,578$345,181
12$606,614$182,690$66,121$357,804
13$630,879$191,613$68,766$370,500
14$656,114$200,950$71,516$383,648
15$682,359$210,660$74,377$397,321
16$709,653$220,759$77,352$411,542
17$738,039$231,262$80,446$426,331
18$767,561$242,185$83,664$441,711
19$798,263$253,545$87,011$457,707
20$830,194$265,359$90,491$474,343
21$863,402$277,646$94,111$491,644
22$897,938$290,425$97,875$509,638
23$933,855$303,714$101,790$528,351
24$971,209$317,535$105,862$547,812
25$1,010,058$331,909$110,096$568,052
26$1,050,460$346,858$114,500$589,102
27$1,092,478$362,405$119,080$610,993
28$1,136,178$378,573$123,843$633,761
29$1,181,625$395,389$128,797$657,439
30$1,228,890$412,877$133,949$682,064
Total$22,100,000$6,950,457$2,408,899$12,740,641

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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.