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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 $166,000,000 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, Apr 27, 2019
Jackpot:$166,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,498,538$599,649$149,912$1,748,977
2$2,623,465$629,632$157,408$1,836,426
3$2,754,638$661,113$165,278$1,928,247
4$2,892,370$694,169$173,542$2,024,659
5$3,036,989$728,877$182,219$2,125,892
6$3,188,838$765,321$191,330$2,232,187
7$3,348,280$803,587$200,897$2,343,796
8$3,515,694$843,767$210,942$2,460,986
9$3,691,479$885,955$221,489$2,584,035
10$3,876,053$930,253$232,563$2,713,237
11$4,069,856$976,765$244,191$2,848,899
12$4,273,348$1,025,604$256,401$2,991,344
13$4,487,016$1,076,884$269,221$3,140,911
14$4,711,367$1,130,728$282,682$3,297,957
15$4,946,935$1,187,264$296,816$3,462,854
16$5,194,282$1,246,628$311,657$3,635,997
17$5,453,996$1,308,959$327,240$3,817,797
18$5,726,695$1,374,407$343,602$4,008,687
19$6,013,030$1,443,127$360,782$4,209,121
20$6,313,682$1,515,284$378,821$4,419,577
21$6,629,366$1,591,048$397,762$4,640,556
22$6,960,834$1,670,600$417,650$4,872,584
23$7,308,876$1,754,130$438,533$5,116,213
24$7,674,319$1,841,837$460,459$5,372,024
25$8,058,035$1,933,928$483,482$5,640,625
26$8,460,937$2,030,625$507,656$5,922,656
27$8,883,984$2,132,156$533,039$6,218,789
28$9,328,183$2,238,764$559,691$6,529,728
29$9,794,592$2,350,702$587,676$6,856,215
30$10,284,322$2,468,237$617,059$7,199,026
Total$166,000,000$39,840,000$9,960,000$116,200,000
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