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Powerball Annuity Jackpot Analysis for U.S. Virgin Islands (Nov. 7, 2018 Drawing)

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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 $71,000,000 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:  Nov. 7, 2018
Jackpot:$71,000,000
Federal Tax:  24%
State Tax:0.00% (Unknown)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,068,652$256,476$0$812,175
2$1,122,084$269,300$0$852,784
3$1,178,189$282,765$0$895,423
4$1,237,098$296,904$0$940,195
5$1,298,953$311,749$0$987,204
6$1,363,901$327,336$0$1,036,565
7$1,432,096$343,703$0$1,088,393
8$1,503,701$360,888$0$1,142,812
9$1,578,886$378,933$0$1,199,953
10$1,657,830$397,879$0$1,259,951
11$1,740,721$417,773$0$1,322,948
12$1,827,757$438,662$0$1,389,096
13$1,919,145$460,595$0$1,458,550
14$2,015,103$483,625$0$1,531,478
15$2,115,858$507,806$0$1,608,052
16$2,221,651$533,196$0$1,688,454
17$2,332,733$559,856$0$1,772,877
18$2,449,370$587,849$0$1,861,521
19$2,571,838$617,241$0$1,954,597
20$2,700,430$648,103$0$2,052,327
21$2,835,452$680,508$0$2,154,943
22$2,977,224$714,534$0$2,262,690
23$3,126,085$750,260$0$2,375,825
24$3,282,390$787,774$0$2,494,616
25$3,446,509$827,162$0$2,619,347
26$3,618,835$868,520$0$2,750,314
27$3,799,776$911,946$0$2,887,830
28$3,989,765$957,544$0$3,032,221
29$4,189,253$1,005,421$0$3,183,833
30$4,398,716$1,055,692$0$3,343,024
Total$71,000,000$17,040,000$0$53,960,000
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