USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Jan 7, 2012

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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 $43,500,000 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, Jan 7, 2012
Jackpot:$43,500,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$775,609$245,163$84,541$445,905
2$806,634$256,642$87,923$462,068
3$838,899$268,580$91,440$478,879
4$872,455$280,996$95,098$496,361
5$907,353$293,908$98,901$514,543
6$943,647$307,337$102,858$533,453
7$981,393$321,303$106,972$553,118
8$1,020,649$335,828$111,251$573,570
9$1,061,475$350,933$115,701$594,841
10$1,103,934$366,643$120,329$616,962
11$1,148,091$382,982$125,142$639,968
12$1,194,015$399,973$130,148$663,894
13$1,241,775$417,645$135,354$688,777
14$1,291,447$436,023$140,768$714,656
15$1,343,104$455,136$146,398$741,570
16$1,396,829$475,014$152,254$769,560
17$1,452,702$495,687$158,344$798,670
18$1,510,810$517,187$164,678$828,944
19$1,571,242$539,547$171,265$860,429
20$1,634,092$562,802$178,116$893,174
21$1,699,456$586,986$185,241$927,229
22$1,767,434$612,138$192,650$962,645
23$1,838,131$638,296$200,356$999,479
24$1,911,656$665,501$208,371$1,037,785
25$1,988,123$693,793$216,705$1,077,624
26$2,067,647$723,217$225,374$1,119,057
27$2,150,353$753,819$234,389$1,162,146
28$2,236,368$785,644$243,764$1,206,960
29$2,325,822$818,742$253,515$1,253,566
30$2,418,855$853,164$263,655$1,302,036
Total$43,500,000$14,840,629$4,741,501$23,917,869

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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.