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 2025 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$5,894,721$1,749,215$8,403,904
2$16,850,232$6,191,606$1,836,675$8,821,951
3$17,692,744$6,503,335$1,928,509$9,260,899
4$18,577,381$6,830,651$2,024,935$9,721,795
5$19,506,249$7,174,333$2,126,181$10,205,736
6$20,481,562$7,535,198$2,232,490$10,713,874
7$21,505,641$7,914,107$2,344,115$11,247,419
8$22,580,923$8,311,962$2,461,321$11,807,641
9$23,709,969$8,729,709$2,584,387$12,395,874
10$24,895,467$9,168,343$2,713,606$13,013,518
11$26,140,241$9,628,909$2,849,286$13,662,045
12$27,447,253$10,112,504$2,991,751$14,342,998
13$28,819,615$10,620,278$3,141,338$15,057,999
14$30,260,596$11,153,441$3,298,405$15,808,750
15$31,773,626$11,713,262$3,463,325$16,597,039
16$33,362,307$12,301,074$3,636,492$17,424,742
17$35,030,422$12,918,276$3,818,316$18,293,830
18$36,781,944$13,566,339$4,009,232$19,206,372
19$38,621,040$14,246,805$4,209,693$20,164,542
20$40,552,093$14,961,295$4,420,178$21,170,620
21$42,579,697$15,711,508$4,641,187$22,227,002
22$44,708,682$16,499,233$4,873,246$23,336,203
23$46,944,116$17,326,343$5,116,909$24,500,864
24$49,291,322$18,194,809$5,372,754$25,723,758
25$51,755,888$19,106,699$5,641,392$27,007,797
26$54,343,683$20,064,183$5,923,461$28,356,039
27$57,060,867$21,069,541$6,219,635$29,771,691
28$59,913,910$22,125,167$6,530,616$31,258,127
29$62,909,605$23,233,574$6,857,147$32,818,884
30$66,055,086$24,397,402$7,200,004$34,457,680
Total$1,066,200,002$393,204,607$116,215,801$556,779,593

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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.