USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Jul 17, 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 $35,000,000 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:Wed, Jul 17, 2002
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$624,053$189,088$68,022$366,944
2$649,016$198,324$70,743$379,949
3$674,976$207,929$73,572$393,475
4$701,975$217,919$76,515$407,541
5$730,054$228,308$79,576$422,171
6$759,256$239,113$82,759$437,385
7$789,627$250,350$86,069$453,208
8$821,212$262,036$89,512$469,664
9$854,060$274,190$93,093$486,778
10$888,223$286,830$96,816$504,576
11$923,752$299,976$100,689$523,087
12$960,702$313,647$104,716$542,338
13$999,130$327,866$108,905$562,359
14$1,039,095$342,653$113,261$583,181
15$1,080,659$358,031$117,792$604,835
16$1,123,885$374,025$122,503$627,356
17$1,168,840$390,659$127,404$650,778
18$1,215,594$407,958$132,500$675,137
19$1,264,218$425,948$137,800$700,470
20$1,314,787$444,659$143,312$726,816
21$1,367,378$464,118$149,044$754,216
22$1,422,073$484,355$155,006$782,712
23$1,478,956$505,401$161,206$812,348
24$1,538,114$527,290$167,654$843,170
25$1,599,639$550,054$174,361$875,224
26$1,663,624$573,729$181,335$908,561
27$1,730,169$598,350$188,588$943,231
28$1,799,376$623,957$196,132$979,287
29$1,871,351$650,588$203,977$1,016,786
30$1,946,205$678,284$212,136$1,055,785
Total$35,000,000$11,695,635$3,814,998$19,489,368

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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.