USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Nov 23, 2022

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The tax information provided here is based on 2022 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 $32,200,000 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 prize money, as well as deductions claimed.

State:

New York

Drawing Date:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$52,828$288,446
2$508,889$151,864$55,469$301,556
3$534,333$160,770$58,242$315,321
4$561,050$170,544$61,154$329,352
5$589,103$180,923$64,212$343,967
6$618,558$191,821$67,423$359,314
7$649,486$203,265$70,794$375,427
8$681,960$215,280$74,334$392,346
9$716,058$227,896$78,050$410,111
10$751,861$241,144$81,953$428,765
11$789,454$255,053$86,050$448,350
12$828,927$269,658$90,353$468,916
13$870,373$284,993$94,871$490,509
14$913,892$301,095$99,614$513,183
15$959,586$318,002$104,595$536,989
16$1,007,565$335,754$109,825$561,987
17$1,057,944$354,394$115,316$588,234
18$1,110,841$373,966$121,082$615,793
19$1,166,383$394,517$127,136$644,731
20$1,224,702$416,095$133,493$675,115
21$1,285,937$438,752$140,167$707,018
22$1,350,234$462,542$147,176$740,517
23$1,417,746$487,521$154,534$775,691
24$1,488,633$513,749$162,261$812,623
25$1,563,065$541,289$170,374$851,402
26$1,641,218$570,206$178,893$892,120
27$1,723,279$600,568$187,837$934,873
28$1,809,443$632,449$197,229$979,765
29$1,899,915$665,924$207,091$1,026,901
30$1,994,911$701,072$217,445$1,076,393
Total$32,200,000$10,804,489$3,509,801$17,885,715

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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.