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 $157,000,000 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, Feb 10, 2016
Jackpot:$157,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,363,075$590,769$94,523$1,677,783
2$2,481,229$620,307$99,249$1,761,673
3$2,605,290$651,323$104,212$1,849,756
4$2,735,555$683,889$109,422$1,942,244
5$2,872,333$718,083$114,893$2,039,356
6$3,015,949$753,987$120,638$2,141,324
7$3,166,747$791,687$126,670$2,248,390
8$3,325,084$831,271$133,003$2,360,810
9$3,491,339$872,835$139,654$2,478,850
10$3,665,905$916,476$146,636$2,602,793
11$3,849,201$962,300$153,968$2,732,933
12$4,041,661$1,010,415$161,666$2,869,579
13$4,243,744$1,060,936$169,750$3,013,058
14$4,455,931$1,113,983$178,237$3,163,711
15$4,678,727$1,169,682$187,149$3,321,897
16$4,912,664$1,228,166$196,507$3,487,991
17$5,158,297$1,289,574$206,332$3,662,391
18$5,416,212$1,354,053$216,648$3,845,510
19$5,687,022$1,421,756$227,481$4,037,786
20$5,971,374$1,492,843$238,855$4,239,675
21$6,269,942$1,567,486$250,798$4,451,659
22$6,583,439$1,645,860$263,338$4,674,242
23$6,912,611$1,728,153$276,504$4,907,954
24$7,258,242$1,814,560$290,330$5,153,352
25$7,621,154$1,905,288$304,846$5,411,019
26$8,002,212$2,000,553$320,088$5,681,570
27$8,402,322$2,100,581$336,093$5,965,649
28$8,822,438$2,205,610$352,898$6,263,931
29$9,263,560$2,315,890$370,542$6,577,128
30$9,726,738$2,431,685$389,070$6,905,984
Total$157,000,000$39,250,000$6,280,000$111,470,000
<( 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.