USA Mega

New York Powerball Jackpot Annuity Payout Schedule for Feb 5, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $214,800,000 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, Feb 5, 2024
Jackpot:$214,800,000
Federal Tax:37% marginal rate
State Tax: 10.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,233,048$1,154,416$352,402$1,726,230
2$3,394,701$1,214,227$370,022$1,810,451
3$3,564,436$1,277,029$388,523$1,898,883
4$3,742,658$1,342,971$407,950$1,991,737
5$3,929,790$1,412,210$428,347$2,089,233
6$4,126,280$1,484,911$449,765$2,191,604
7$4,332,594$1,561,248$472,253$2,299,094
8$4,549,224$1,641,400$495,865$2,411,958
9$4,776,685$1,725,561$520,659$2,530,465
10$5,015,519$1,813,930$546,692$2,654,898
11$5,266,295$1,906,717$574,026$2,785,552
12$5,529,610$2,004,143$602,727$2,922,739
13$5,806,090$2,106,441$632,864$3,066,785
14$6,096,395$2,213,854$664,507$3,218,034
15$6,401,214$2,326,637$697,732$3,376,845
16$6,721,275$2,445,060$732,619$3,543,597
17$7,057,339$2,569,403$769,250$3,718,686
18$7,410,206$2,699,964$807,712$3,902,529
19$7,780,716$2,837,053$848,098$4,095,565
20$8,169,752$2,980,996$890,503$4,298,253
21$8,578,239$3,132,136$935,028$4,511,075
22$9,007,151$3,290,834$981,780$4,734,538
23$9,457,509$3,457,466$1,030,868$4,969,174
24$9,930,384$3,632,430$1,082,412$5,215,543
25$10,426,904$3,816,142$1,136,532$5,474,229
26$10,948,249$4,009,040$1,193,359$5,745,850
27$11,495,661$4,211,582$1,253,027$6,031,052
28$12,070,444$4,424,252$1,315,678$6,330,514
29$12,673,967$4,647,555$1,381,462$6,644,949
30$13,307,665$4,882,024$1,450,535$6,975,106
Total$214,800,000$78,221,632$23,413,197$113,165,168

◄ Back to Jackpot Analysis

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.