USA Mega

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

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$157,591$58,304$319,008
2$556,299$165,079$60,637$330,583
3$578,551$172,868$63,062$342,621
4$601,693$180,967$65,585$355,141
5$625,761$189,719$68,208$367,834
6$650,791$198,981$70,936$380,874
7$676,823$208,612$73,774$394,437
8$703,896$218,629$76,725$408,542
9$732,052$229,047$79,794$423,211
10$761,334$239,881$82,985$438,467
11$791,787$251,149$86,305$454,333
12$823,459$262,867$89,757$470,834
13$856,397$275,055$93,347$487,995
14$890,653$287,729$97,081$505,842
15$926,279$300,911$100,964$524,404
16$963,330$314,620$105,003$543,707
17$1,001,863$328,877$109,203$563,783
18$1,041,938$343,705$113,571$584,662
19$1,083,615$359,125$118,114$606,376
20$1,126,960$375,163$122,839$628,958
21$1,172,038$391,842$127,752$652,444
22$1,218,920$409,188$132,862$676,869
23$1,267,677$427,228$138,177$702,272
24$1,318,384$445,990$143,704$728,690
25$1,371,119$465,502$149,452$756,165
26$1,425,964$485,794$155,430$784,739
27$1,483,002$506,899$161,647$814,456
28$1,542,322$528,847$168,113$845,362
29$1,604,015$551,673$174,838$877,504
30$1,668,176$575,413$181,831$910,932
Total$30,000,000$9,848,951$3,270,000$16,881,045

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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.