USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Oct 2, 2023

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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 $1,066,200,000 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 money, as well as deductions claimed.

State:

New York

Drawing Date:Mon, Oct 2, 2023
Jackpot:$1,066,200,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,047,840$5,895,889$1,749,215$8,402,737
2$16,850,232$6,192,774$1,836,675$8,820,783
3$17,692,744$6,504,503$1,928,509$9,259,732
4$18,577,381$6,831,819$2,024,935$9,720,628
5$19,506,249$7,175,500$2,126,181$10,204,568
6$20,481,562$7,536,366$2,232,490$10,712,706
7$21,505,641$7,915,275$2,344,115$11,246,251
8$22,580,923$8,313,129$2,461,321$11,806,473
9$23,709,969$8,730,876$2,584,387$12,394,706
10$24,895,467$9,169,511$2,713,606$13,012,351
11$26,140,241$9,630,077$2,849,286$13,660,878
12$27,447,253$10,113,671$2,991,751$14,341,831
13$28,819,615$10,621,445$3,141,338$15,056,832
14$30,260,596$11,154,608$3,298,405$15,807,583
15$31,773,626$11,714,429$3,463,325$16,595,871
16$33,362,307$12,302,242$3,636,492$17,423,574
17$35,030,422$12,919,444$3,818,316$18,292,662
18$36,781,944$13,567,507$4,009,232$19,205,205
19$38,621,040$14,247,973$4,209,693$20,163,374
20$40,552,093$14,962,462$4,420,178$21,169,453
21$42,579,697$15,712,676$4,641,187$22,225,834
22$44,708,682$16,500,400$4,873,246$23,335,036
23$46,944,116$17,327,511$5,116,909$24,499,697
24$49,291,322$18,195,977$5,372,754$25,722,591
25$51,755,888$19,107,866$5,641,392$27,006,630
26$54,343,683$20,065,350$5,923,461$28,354,871
27$57,060,867$21,070,709$6,219,635$29,770,524
28$59,913,910$22,126,334$6,530,616$31,256,959
29$62,909,605$23,234,742$6,857,147$32,817,717
30$66,055,086$24,398,570$7,200,004$34,456,512
Total$1,066,200,002$393,239,635$116,215,801$556,744,569

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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.