USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Jan 13, 2024

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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 $78,400,000 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 13, 2024
Jackpot:$78,400,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,180,033$394,800$128,624$656,609
2$1,239,034$416,630$135,055$687,349
3$1,300,986$439,553$141,807$719,626
4$1,366,035$463,621$148,898$753,517
5$1,434,337$488,892$156,343$789,102
6$1,506,054$515,428$164,160$826,466
7$1,581,356$543,290$172,368$865,699
8$1,660,424$572,545$180,986$906,893
9$1,743,445$603,263$190,036$950,147
10$1,830,618$635,516$199,537$995,564
11$1,922,149$669,383$209,514$1,043,252
12$2,018,256$704,942$219,990$1,093,324
13$2,119,169$742,280$230,989$1,145,899
14$2,225,127$781,485$242,539$1,201,104
15$2,336,384$822,650$254,666$1,259,068
16$2,453,203$865,873$267,399$1,319,931
17$2,575,863$911,257$280,769$1,383,837
18$2,704,656$958,911$294,808$1,450,938
19$2,839,889$1,008,947$309,548$1,521,394
20$2,981,883$1,061,485$325,025$1,595,373
21$3,130,978$1,116,649$341,277$1,673,052
22$3,287,526$1,174,573$358,340$1,754,614
23$3,451,903$1,235,392$376,257$1,840,254
24$3,624,498$1,299,252$395,070$1,930,176
25$3,805,723$1,366,305$414,824$2,024,594
26$3,996,009$1,436,711$435,565$2,123,733
27$4,195,809$1,510,637$457,343$2,227,829
28$4,405,600$1,588,260$480,210$2,337,130
29$4,625,880$1,669,763$504,221$2,451,896
30$4,857,174$1,755,342$529,432$2,572,400
Total$78,400,000$27,753,635$8,545,600$42,100,770

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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.