USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Nov 9, 2011

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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 $25,000,000 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, Nov 9, 2011
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$445,752$126,388$48,587$270,777
2$463,583$132,629$50,531$280,423
3$482,126$139,119$52,552$290,455
4$501,411$145,869$54,654$300,889
5$521,467$152,888$56,840$311,739
6$542,326$160,189$59,114$323,024
7$564,019$167,781$61,478$334,760
8$586,580$175,678$63,937$346,965
9$610,043$183,904$66,495$359,645
10$634,445$192,932$69,154$372,358
11$659,823$202,322$71,921$385,580
12$686,215$212,087$74,797$399,331
13$713,664$222,243$77,789$413,631
14$742,211$232,806$80,901$428,504
15$771,899$243,790$84,137$443,972
16$802,775$255,215$87,502$460,058
17$834,886$267,096$91,003$476,788
18$868,281$279,452$94,643$494,187
19$903,013$292,302$98,428$512,282
20$939,133$305,667$102,366$531,101
21$976,699$319,566$106,460$550,672
22$1,015,767$334,021$110,719$571,027
23$1,056,397$349,055$115,147$592,195
24$1,098,653$364,689$119,753$614,210
25$1,142,599$380,949$124,543$637,106
26$1,188,303$397,860$129,525$660,918
27$1,235,835$415,447$134,706$685,682
28$1,285,269$433,737$140,094$711,437
29$1,336,679$452,759$145,698$738,222
30$1,390,147$472,542$151,526$766,079
Total$25,000,000$8,010,982$2,725,000$14,264,017

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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.