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North Carolina Powerball Jackpot Annuity Payout Schedule for Jan 27, 2021

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The tax information provided here is based on 2021 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 $20,000,000 for a ticket purchased in North Carolina, 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 prize money, as well as deductions claimed.

North Carolina

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $301,029 $79,904 $15,804 $205,320
2 $316,080 $85,172 $16,594 $214,314
3 $331,884 $90,704 $17,424 $223,757
4 $348,478 $96,512 $18,295 $233,672
5 $365,902 $102,610 $19,210 $244,082
6 $384,197 $109,013 $20,170 $255,014
7 $403,407 $115,737 $21,179 $266,492
8 $423,578 $122,796 $22,238 $278,543
9 $444,757 $130,209 $23,350 $291,198
10 $466,994 $137,992 $24,517 $304,485
11 $490,344 $146,165 $25,743 $318,436
12 $514,861 $154,746 $27,030 $333,085
13 $540,604 $164,096 $28,382 $348,127
14 $567,635 $174,097 $29,801 $363,737
15 $596,016 $184,598 $31,291 $380,127
16 $625,817 $195,625 $32,855 $397,337
17 $657,108 $207,202 $34,498 $415,408
18 $689,963 $219,359 $36,223 $434,382
19 $724,461 $232,123 $38,034 $454,304
20 $760,685 $245,526 $39,936 $475,223
21 $798,719 $259,598 $41,933 $497,188
22 $838,655 $274,374 $44,029 $520,251
23 $880,587 $289,890 $46,231 $544,467
24 $924,617 $306,180 $48,542 $569,894
25 $970,848 $323,286 $50,970 $596,592
26 $1,019,390 $341,247 $53,518 $624,625
27 $1,070,360 $360,105 $56,194 $654,060
28 $1,123,878 $379,907 $59,004 $684,967
29 $1,180,071 $400,699 $61,954 $717,419
30 $1,239,075 $422,530 $65,051 $751,494
Total $20,000,000 $6,352,002 $1,050,000 $12,598,000

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.

Powerball annuity chart shows the annual net payout a North Carolina jackpot winner would get after federal and state taxes.

Wilmington sees two NC Lottery Powerball drawing winners

Tickets bought at two Wilmington stores resulted in more than $150,000 won through the North Carolina lottery.

A $150,000 prize and a $50,000 prize were won in Wednesday’s Powerball drawing. The $3 Power Play ticket that won $150,000 was sold at The Scotchman on Wrightsville Avenue in Wilmington and the ticket that won $50,000 was sold at the Circle K on Market Street in Wilmington.

As for the weekend, the Mega Millions and Powerball jackpots add up to nearly $1 billion dollars, giving North Carolinians two chances to take home a life-changing jackpot in this weekend’s drawings.

The estimated annuity jackpot for Friday’s Mega Millions drawing is $510 million. If won, it would be the 8th-largest jackpot in the game’s history. The estimated cash value is $377.4 million. The odds of winning a Mega Millions jackpot are 1 in 302.5 million.

North Carolinians also have a chance at a big jackpot win in Saturday’s Powerball drawing. The jackpot for Saturday’s drawing stands at an estimated $470 million as an annuity prize, or $362.7 million cash.

If won, this would be the 10th largest jackpot in Powerball game history. The odds of winning the Powerball jackpot are 1 in 292 million.

“It’s great to see North Carolinians winning big prizes in our Mega Millions and Powerball games,” said Mark Michalko, executive director of the N.C. Education Lottery. “While these two jackpots are exciting to see, remember that it only takes one ticket to win.”

Mega Millions and Powerball have combined jackpots of nearly $1 billion for the Friday and Saturday drawings. This is the highest the combined jackpots have been since October 2018.

Players can buy $2 Powerball or Mega Millions tickets at any lottery retail location, through Online Play on the lottery’s website, www.nclottery.com, or by using the NC Lottery Official Mobile App.

Ticket sales from draw games make it possible for the lottery to raise more than $725 million a year for education. For details on how lottery funds have made a difference in all of North Carolina’s 100 counties, click on the “Impact” section of the lottery’s website.

Part of a few big prizes won on Wednesday night ]]>