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Powerball Annuity Jackpot Analysis for U.S. Virgin Islands (Apr. 3, 2019 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 $54,000,000 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:  Apr. 3, 2019
Jackpot:$54,000,000
Federal Tax:  24%
State Tax:0.00% (Unknown)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$0$617,711
2$853,416$204,820$0$648,596
3$896,087$215,061$0$681,026
4$940,892$225,814$0$715,078
5$987,936$237,105$0$750,831
6$1,037,333$248,960$0$788,373
7$1,089,200$261,408$0$827,792
8$1,143,660$274,478$0$869,181
9$1,200,843$288,202$0$912,640
10$1,260,885$302,612$0$958,272
11$1,323,929$317,743$0$1,006,186
12$1,390,125$333,630$0$1,056,495
13$1,459,632$350,312$0$1,109,320
14$1,532,613$367,827$0$1,164,786
15$1,609,244$386,219$0$1,223,025
16$1,689,706$405,529$0$1,284,177
17$1,774,191$425,806$0$1,348,385
18$1,862,901$447,096$0$1,415,805
19$1,956,046$469,451$0$1,486,595
20$2,053,848$492,924$0$1,560,925
21$2,156,541$517,570$0$1,638,971
22$2,264,368$543,448$0$1,720,919
23$2,377,586$570,621$0$1,806,965
24$2,496,465$599,152$0$1,897,314
25$2,621,289$629,109$0$1,992,179
26$2,752,353$660,565$0$2,091,788
27$2,889,971$693,593$0$2,196,378
28$3,034,469$728,273$0$2,306,197
29$3,186,193$764,686$0$2,421,506
30$3,345,502$802,921$0$2,542,582
Total$54,000,000$12,960,000$0$41,040,000
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