USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Jun 1, 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 $21,300,000 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, Jun 1, 2002
Jackpot:$21,300,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$379,781$103,298$41,396$235,087
2$394,972$108,615$43,052$243,305
3$410,771$114,145$44,774$251,852
4$427,202$119,895$46,565$260,742
5$444,290$125,876$48,428$269,986
6$462,062$132,096$50,365$279,601
7$480,544$138,565$52,379$289,600
8$499,766$145,293$54,474$299,999
9$519,757$152,290$56,653$310,814
10$540,547$159,566$58,920$322,061
11$562,169$167,134$61,276$333,759
12$584,656$175,004$63,727$345,924
13$608,042$183,189$66,277$358,576
14$632,363$192,162$68,928$371,274
15$657,658$201,521$71,685$384,452
16$683,964$211,255$74,552$398,158
17$711,323$221,377$77,534$412,411
18$739,776$231,905$80,636$427,235
19$769,367$242,853$83,861$442,652
20$800,142$254,240$87,215$458,686
21$832,147$266,082$90,704$475,361
22$865,433$278,398$94,332$492,703
23$900,050$291,206$98,105$510,739
24$936,052$304,527$102,030$529,496
25$973,495$318,381$106,111$549,003
26$1,012,434$332,788$110,355$569,291
27$1,052,932$347,772$114,770$590,390
28$1,095,049$363,356$119,360$612,333
29$1,138,851$379,563$124,135$635,154
30$1,184,405$396,418$129,100$658,887
Total$21,300,000$6,658,770$2,321,699$12,319,531

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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.