USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Dec 20, 2008

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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 $54,700,000 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, Dec 20, 2008
Jackpot:$54,700,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$975,306$319,051$106,308$549,947
2$1,014,319$333,486$110,561$570,272
3$1,054,891$348,498$114,983$591,411
4$1,097,087$364,110$119,582$613,395
5$1,140,971$380,347$124,366$636,258
6$1,186,609$397,233$129,340$660,036
7$1,234,074$414,795$134,514$684,765
8$1,283,437$433,059$139,895$710,483
9$1,334,774$452,054$145,490$737,230
10$1,388,165$471,809$151,310$765,046
11$1,443,692$492,354$157,362$793,976
12$1,501,439$513,720$163,657$824,062
13$1,561,497$535,942$170,203$855,352
14$1,623,957$559,052$177,011$887,894
15$1,688,915$583,086$184,092$921,737
16$1,756,472$608,082$191,455$956,934
17$1,826,731$634,078$199,114$993,539
18$1,899,800$661,114$207,078$1,031,608
19$1,975,792$689,231$215,361$1,071,200
20$2,054,824$718,472$223,976$1,112,375
21$2,137,016$748,884$232,935$1,155,198
22$2,222,497$780,512$242,252$1,199,733
23$2,311,397$813,405$251,942$1,246,050
24$2,403,853$847,613$262,020$1,294,220
25$2,500,007$883,190$272,501$1,344,316
26$2,600,007$920,190$283,401$1,396,416
27$2,704,008$958,671$294,737$1,450,600
28$2,812,168$998,690$306,526$1,506,952
29$2,924,655$1,040,310$318,787$1,565,557
30$3,041,641$1,083,595$331,539$1,626,507
Total$54,700,000$18,984,633$5,962,298$29,753,069

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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.