USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Virginia

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

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 $127,000,000 would be for a resident of Virginia, 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:

Virginia

Drawing Date:  Wed, Aug 24, 2016
Jackpot:$127,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,911,532$477,883$76,461$1,357,188
2$2,007,109$501,777$80,284$1,425,047
3$2,107,464$526,866$84,299$1,496,300
4$2,212,838$553,209$88,514$1,571,115
5$2,323,479$580,870$92,939$1,649,670
6$2,439,653$609,913$97,586$1,732,154
7$2,561,636$640,409$102,465$1,818,762
8$2,689,718$672,429$107,589$1,909,700
9$2,824,204$706,051$112,968$2,005,185
10$2,965,414$741,353$118,617$2,105,444
11$3,113,685$778,421$124,547$2,210,716
12$3,269,369$817,342$130,775$2,321,252
13$3,432,837$858,209$137,313$2,437,314
14$3,604,479$901,120$144,179$2,559,180
15$3,784,703$946,176$151,388$2,687,139
16$3,973,938$993,485$158,958$2,821,496
17$4,172,635$1,043,159$166,905$2,962,571
18$4,381,267$1,095,317$175,251$3,110,700
19$4,600,330$1,150,083$184,013$3,266,234
20$4,830,347$1,207,587$193,214$3,429,546
21$5,071,864$1,267,966$202,875$3,601,024
22$5,325,457$1,331,364$213,018$3,781,075
23$5,591,730$1,397,933$223,669$3,970,128
24$5,871,317$1,467,829$234,853$4,168,635
25$6,164,883$1,541,221$246,595$4,377,067
26$6,473,127$1,618,282$258,925$4,595,920
27$6,796,783$1,699,196$271,871$4,825,716
28$7,136,622$1,784,156$285,465$5,067,002
29$7,493,453$1,873,363$299,738$5,320,352
30$7,868,126$1,967,031$314,725$5,586,369
Total$127,000,000$31,750,000$5,080,000$90,170,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  Terms of Use
Copyright © 1999-2016 Speednet Group.  All rights reserved.