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Powerball Annuity Jackpot Analysis for Vermont

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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 $125,000,000 would be for a resident of Vermont, 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:

Vermont

Drawing Date:  Sat, May 30, 2020
Jackpot:$125,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,881,429$451,543$112,886$1,317,001
2$1,975,501$474,120$118,530$1,382,851
3$2,074,276$497,826$124,457$1,451,993
4$2,177,990$522,718$130,679$1,524,593
5$2,286,889$548,853$137,213$1,600,822
6$2,401,234$576,296$144,074$1,680,864
7$2,521,295$605,111$151,278$1,764,907
8$2,647,360$635,366$158,842$1,853,152
9$2,779,728$667,135$166,784$1,945,810
10$2,918,715$700,491$175,123$2,043,100
11$3,064,650$735,516$183,879$2,145,255
12$3,217,883$772,292$193,073$2,252,518
13$3,378,777$810,906$202,727$2,365,144
14$3,547,716$851,452$212,863$2,483,401
15$3,725,102$894,024$223,506$2,607,571
16$3,911,357$938,726$234,681$2,737,950
17$4,106,924$985,662$246,415$2,874,847
18$4,312,271$1,034,945$258,736$3,018,589
19$4,527,884$1,086,692$271,673$3,169,519
20$4,754,278$1,141,027$285,257$3,327,995
21$4,991,992$1,198,078$299,520$3,494,395
22$5,241,592$1,257,982$314,496$3,669,114
23$5,503,672$1,320,881$330,220$3,852,570
24$5,778,855$1,386,925$346,731$4,045,199
25$6,067,798$1,456,271$364,068$4,247,458
26$6,371,188$1,529,085$382,271$4,459,831
27$6,689,747$1,605,539$401,385$4,682,823
28$7,024,234$1,685,816$421,454$4,916,964
29$7,375,446$1,770,107$442,527$5,162,812
30$7,744,219$1,858,612$464,653$5,420,953
Total$125,000,000$30,000,000$7,500,000$87,500,000
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