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Powerball Annuity Jackpot Analysis for Vermont

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $70,000,000 would be for a resident of Vermont, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Vermont

Drawing Date:  Sat, Aug 2, 2014
Jackpot:$70,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,248,107$312,027$74,886$861,194
2$1,298,031$324,508$77,882$895,642
3$1,349,952$337,488$80,997$931,467
4$1,403,951$350,988$84,237$968,726
5$1,460,109$365,027$87,607$1,007,475
6$1,518,513$379,628$91,111$1,047,774
7$1,579,253$394,813$94,755$1,089,685
8$1,642,424$410,606$98,545$1,133,272
9$1,708,121$427,030$102,487$1,178,603
10$1,776,445$444,111$106,587$1,225,747
11$1,847,503$461,876$110,850$1,274,777
12$1,921,403$480,351$115,284$1,325,768
13$1,998,259$499,565$119,896$1,378,799
14$2,078,190$519,547$124,691$1,433,951
15$2,161,317$540,329$129,679$1,491,309
16$2,247,770$561,943$134,866$1,550,961
17$2,337,681$584,420$140,261$1,613,000
18$2,431,188$607,797$145,871$1,677,520
19$2,528,436$632,109$151,706$1,744,621
20$2,629,573$657,393$157,774$1,814,405
21$2,734,756$683,689$164,085$1,886,982
22$2,844,146$711,037$170,649$1,962,461
23$2,957,912$739,478$177,475$2,040,959
24$3,076,229$769,057$184,574$2,122,598
25$3,199,278$799,819$191,957$2,207,502
26$3,327,249$831,812$199,635$2,295,802
27$3,460,339$865,085$207,620$2,387,634
28$3,598,752$899,688$215,925$2,483,139
29$3,742,702$935,676$224,562$2,582,465
30$3,892,411$973,103$233,545$2,685,763
Total$70,000,000$17,500,000$4,200,000$48,300,000
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