USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Mar 27, 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 $122,200,000 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, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$638,723$200,482$1,000,080
2$1,931,250$672,750$210,506$1,047,993
3$2,027,812$708,478$221,032$1,098,302
4$2,129,203$745,993$232,083$1,151,127
5$2,235,663$785,383$243,687$1,206,593
6$2,347,446$826,743$255,872$1,264,832
7$2,464,818$870,171$268,665$1,325,983
8$2,588,059$915,770$282,098$1,390,191
9$2,717,462$963,649$296,203$1,457,610
10$2,853,335$1,013,922$311,014$1,528,400
11$2,996,002$1,066,709$326,564$1,602,729
12$3,145,802$1,122,135$342,892$1,680,775
13$3,303,092$1,180,332$360,037$1,762,723
14$3,468,247$1,241,439$378,039$1,848,769
15$3,641,659$1,305,602$396,941$1,939,117
16$3,823,742$1,372,972$416,788$2,033,982
17$4,014,929$1,443,712$437,627$2,133,590
18$4,215,676$1,517,988$459,509$2,238,179
19$4,426,460$1,595,978$482,484$2,347,998
20$4,647,783$1,677,867$506,608$2,463,307
21$4,880,172$1,763,851$531,939$2,584,382
22$5,124,180$1,854,134$558,536$2,711,510
23$5,380,389$1,948,932$586,462$2,844,995
24$5,649,409$2,048,469$615,786$2,985,154
25$5,931,879$2,152,983$646,575$3,132,321
26$6,228,473$2,262,723$678,904$3,286,847
27$6,539,897$2,377,950$712,849$3,449,098
28$6,866,892$2,498,938$748,491$3,619,463
29$7,210,236$2,625,975$785,916$3,798,345
30$7,570,748$2,759,365$825,212$3,986,172
Total$122,200,000$43,959,636$13,319,801$64,920,567

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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.