USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Aug 24, 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 $47,900,000 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, Aug 24, 2011
Jackpot:$47,900,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$854,062$274,191$93,093$486,778
2$888,224$286,831$96,816$504,577
3$923,753$299,976$100,689$523,088
4$960,703$313,648$104,717$542,339
5$999,131$327,866$108,905$562,360
6$1,039,097$342,654$113,262$583,182
7$1,080,661$358,032$117,792$604,836
8$1,123,887$374,026$122,504$627,357
9$1,168,842$390,659$127,404$650,779
10$1,215,596$407,958$132,500$675,138
11$1,264,220$425,949$137,800$700,471
12$1,314,789$444,660$143,312$726,817
13$1,367,380$464,118$149,044$754,217
14$1,422,076$484,356$155,006$782,714
15$1,478,959$505,402$161,206$812,350
16$1,538,117$527,291$167,655$843,171
17$1,599,642$550,055$174,361$875,226
18$1,663,627$573,730$181,335$908,562
19$1,730,172$598,352$188,589$943,232
20$1,799,379$623,958$196,132$979,289
21$1,871,354$650,589$203,978$1,016,788
22$1,946,209$678,285$212,137$1,055,787
23$2,024,057$707,089$220,622$1,096,346
24$2,105,019$737,045$229,447$1,138,527
25$2,189,220$768,199$238,625$1,182,396
26$2,276,789$800,600$248,170$1,228,019
27$2,367,860$834,296$258,097$1,275,468
28$2,462,575$869,340$268,421$1,324,814
29$2,561,078$905,787$279,157$1,376,134
30$2,663,521$943,690$290,324$1,429,507
Total$47,900,000$16,468,632$5,221,100$26,210,269

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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.