USA Mega

New York Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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The tax information provided here is based on 2025 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 $112,000,000 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, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$695,900$217,670$1,083,402
2$2,076,850$725,455$226,377$1,125,019
3$2,159,924$756,192$235,432$1,168,300
4$2,246,321$788,159$244,849$1,213,313
5$2,336,174$821,405$254,643$1,260,126
6$2,429,621$855,980$264,829$1,308,812
7$2,526,806$891,938$275,422$1,359,445
8$2,627,878$929,335$286,439$1,412,104
9$2,732,993$968,228$297,896$1,466,869
10$2,842,313$1,008,676$309,812$1,523,825
11$2,956,005$1,050,742$322,205$1,583,058
12$3,074,245$1,094,491$335,093$1,644,662
13$3,197,215$1,139,990$348,496$1,708,729
14$3,325,104$1,187,309$362,436$1,775,359
15$3,458,108$1,236,520$376,934$1,844,654
16$3,596,432$1,287,700$392,011$1,916,721
17$3,740,289$1,340,927$407,692$1,991,671
18$3,889,901$1,396,284$423,999$2,069,618
19$4,045,497$1,453,854$440,959$2,150,684
20$4,207,317$1,513,728$458,598$2,234,992
21$4,375,610$1,575,996$476,941$2,322,672
22$4,550,634$1,640,755$496,019$2,413,860
23$4,732,659$1,708,104$515,860$2,508,695
24$4,921,966$1,778,148$536,494$2,607,324
25$5,118,844$1,850,993$557,954$2,709,898
26$5,323,598$1,926,752$580,272$2,816,574
27$5,536,542$2,005,541$603,483$2,927,518
28$5,758,004$2,087,482$627,622$3,042,900
29$5,988,324$2,172,700$652,727$3,162,896
30$6,227,857$2,261,327$678,836$3,287,693
Total$112,000,000$40,150,611$12,208,000$59,641,393

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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.