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Powerball Annuity Jackpot Analysis for U.S. Virgin Islands

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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 $348,000,000 would be for a resident of U.S. Virgin Islands, 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:

U.S. Virgin Islands

Drawing Date:  Wed, May 4, 2016
Jackpot:$348,000,000
Federal Tax:  25%
State Tax:0.00% (Unknown)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,309,475$0$3,928,425
2$5,499,794$1,374,949$0$4,124,846
3$5,774,784$1,443,696$0$4,331,088
4$6,063,523$1,515,881$0$4,547,643
5$6,366,699$1,591,675$0$4,775,024
6$6,685,034$1,671,259$0$5,013,776
7$7,019,286$1,754,822$0$5,264,465
8$7,370,251$1,842,563$0$5,527,688
9$7,738,763$1,934,691$0$5,804,072
10$8,125,701$2,031,425$0$6,094,276
11$8,531,986$2,132,997$0$6,398,990
12$8,958,586$2,239,646$0$6,718,939
13$9,406,515$2,351,629$0$7,054,886
14$9,876,841$2,469,210$0$7,407,630
15$10,370,683$2,592,671$0$7,778,012
16$10,889,217$2,722,304$0$8,166,913
17$11,433,677$2,858,419$0$8,575,258
18$12,005,361$3,001,340$0$9,004,021
19$12,605,629$3,151,407$0$9,454,222
20$13,235,911$3,308,978$0$9,926,933
21$13,897,706$3,474,427$0$10,423,280
22$14,592,592$3,648,148$0$10,944,444
23$15,322,221$3,830,555$0$11,491,666
24$16,088,332$4,022,083$0$12,066,249
25$16,892,749$4,223,187$0$12,669,562
26$17,737,387$4,434,347$0$13,303,040
27$18,624,256$4,656,064$0$13,968,192
28$19,555,469$4,888,867$0$14,666,601
29$20,533,242$5,133,311$0$15,399,932
30$21,559,904$5,389,976$0$16,169,928
Total$348,000,001$87,000,000$0$261,000,001
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