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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 $142,000,000 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:  Sat, Aug 27, 2016
Jackpot:$142,000,000
Federal Tax:  25%
State Tax:0.00% (Unknown)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,137,304$534,326$0$1,602,978
2$2,244,169$561,042$0$1,683,127
3$2,356,377$589,094$0$1,767,283
4$2,474,196$618,549$0$1,855,647
5$2,597,906$649,477$0$1,948,430
6$2,727,801$681,950$0$2,045,851
7$2,864,192$716,048$0$2,148,144
8$3,007,401$751,850$0$2,255,551
9$3,157,771$789,443$0$2,368,328
10$3,315,660$828,915$0$2,486,745
11$3,481,443$870,361$0$2,611,082
12$3,655,515$913,879$0$2,741,636
13$3,838,291$959,573$0$2,878,718
14$4,030,205$1,007,551$0$3,022,654
15$4,231,715$1,057,929$0$3,173,786
16$4,443,301$1,110,825$0$3,332,476
17$4,665,466$1,166,367$0$3,499,100
18$4,898,739$1,224,685$0$3,674,055
19$5,143,676$1,285,919$0$3,857,757
20$5,400,860$1,350,215$0$4,050,645
21$5,670,903$1,417,726$0$4,253,177
22$5,954,448$1,488,612$0$4,465,836
23$6,252,171$1,563,043$0$4,689,128
24$6,564,779$1,641,195$0$4,923,584
25$6,893,018$1,723,255$0$5,169,764
26$7,237,669$1,809,417$0$5,428,252
27$7,599,553$1,899,888$0$5,699,665
28$7,979,530$1,994,883$0$5,984,648
29$8,378,507$2,094,627$0$6,283,880
30$8,797,432$2,199,358$0$6,598,074
Total$142,000,000$35,500,000$0$106,500,000
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