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 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 $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$697,067$217,670$1,082,234
2$2,076,850$726,622$226,377$1,123,851
3$2,159,924$757,360$235,432$1,167,133
4$2,246,321$789,326$244,849$1,212,145
5$2,336,174$822,572$254,643$1,258,959
6$2,429,621$857,147$264,829$1,307,645
7$2,526,806$893,106$275,422$1,358,278
8$2,627,878$930,503$286,439$1,410,937
9$2,732,993$969,395$297,896$1,465,702
10$2,842,313$1,009,843$309,812$1,522,657
11$2,956,005$1,051,910$322,205$1,581,891
12$3,074,245$1,095,658$335,093$1,643,494
13$3,197,215$1,141,157$348,496$1,707,561
14$3,325,104$1,188,476$362,436$1,774,191
15$3,458,108$1,237,688$376,934$1,843,486
16$3,596,432$1,288,868$392,011$1,915,553
17$3,740,289$1,342,095$407,692$1,990,503
18$3,889,901$1,397,451$423,999$2,068,451
19$4,045,497$1,455,022$440,959$2,149,516
20$4,207,317$1,514,895$458,598$2,233,824
21$4,375,610$1,577,163$476,941$2,321,505
22$4,550,634$1,641,922$496,019$2,412,693
23$4,732,659$1,709,272$515,860$2,507,528
24$4,921,966$1,779,315$536,494$2,606,156
25$5,118,844$1,852,160$557,954$2,708,730
26$5,323,598$1,927,919$580,272$2,815,407
27$5,536,542$2,006,708$603,483$2,926,351
28$5,758,004$2,088,649$627,622$3,041,732
29$5,988,324$2,173,868$652,727$3,161,729
30$6,227,857$2,262,495$678,836$3,286,526
Total$112,000,000$40,185,632$12,208,000$59,606,368

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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.