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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 $50,000,000 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, Aug 24, 2019
Jackpot:$50,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$180,617$45,154$526,800
2$790,200$189,648$47,412$553,140
3$829,710$199,130$49,783$580,797
4$871,196$209,087$52,272$609,837
5$914,756$219,541$54,885$640,329
6$960,493$230,518$57,630$672,345
7$1,008,518$242,044$60,511$705,963
8$1,058,944$254,147$63,537$741,261
9$1,111,891$266,854$66,713$778,324
10$1,167,486$280,197$70,049$817,240
11$1,225,860$294,206$73,552$858,102
12$1,287,153$308,917$77,229$901,007
13$1,351,511$324,363$81,091$946,058
14$1,419,086$340,581$85,145$993,360
15$1,490,041$357,610$89,402$1,043,028
16$1,564,543$375,490$93,873$1,095,180
17$1,642,770$394,265$98,566$1,149,939
18$1,724,908$413,978$103,494$1,207,436
19$1,811,154$434,677$108,669$1,267,808
20$1,901,711$456,411$114,103$1,331,198
21$1,996,797$479,231$119,808$1,397,758
22$2,096,637$503,193$125,798$1,467,646
23$2,201,469$528,352$132,088$1,541,028
24$2,311,542$554,770$138,693$1,618,079
25$2,427,119$582,509$145,627$1,698,983
26$2,548,475$611,634$152,909$1,783,933
27$2,675,899$642,216$160,554$1,873,129
28$2,809,694$674,327$168,582$1,966,786
29$2,950,178$708,043$177,011$2,065,125
30$3,097,687$743,445$185,861$2,168,381
Total$50,000,000$12,000,000$3,000,000$35,000,000
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