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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 $157,000,000 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, Feb 10, 2016
Jackpot:$157,000,000
Federal Tax:  25%
State Tax:0.00% (Unknown)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,363,075$590,769$0$1,772,306
2$2,481,229$620,307$0$1,860,922
3$2,605,290$651,323$0$1,953,968
4$2,735,555$683,889$0$2,051,666
5$2,872,333$718,083$0$2,154,250
6$3,015,949$753,987$0$2,261,962
7$3,166,747$791,687$0$2,375,060
8$3,325,084$831,271$0$2,493,813
9$3,491,339$872,835$0$2,618,504
10$3,665,905$916,476$0$2,749,429
11$3,849,201$962,300$0$2,886,901
12$4,041,661$1,010,415$0$3,031,246
13$4,243,744$1,060,936$0$3,182,808
14$4,455,931$1,113,983$0$3,341,948
15$4,678,727$1,169,682$0$3,509,046
16$4,912,664$1,228,166$0$3,684,498
17$5,158,297$1,289,574$0$3,868,723
18$5,416,212$1,354,053$0$4,062,159
19$5,687,022$1,421,756$0$4,265,267
20$5,971,374$1,492,843$0$4,478,530
21$6,269,942$1,567,486$0$4,702,457
22$6,583,439$1,645,860$0$4,937,580
23$6,912,611$1,728,153$0$5,184,459
24$7,258,242$1,814,560$0$5,443,681
25$7,621,154$1,905,288$0$5,715,865
26$8,002,212$2,000,553$0$6,001,659
27$8,402,322$2,100,581$0$6,301,742
28$8,822,438$2,205,610$0$6,616,829
29$9,263,560$2,315,890$0$6,947,670
30$9,726,738$2,431,685$0$7,295,054
Total$157,000,000$39,250,000$0$117,750,000
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