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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 $60,000,000 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:  Wed, Sep 28, 2016
Jackpot:$60,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$225,772$54,185$623,129
2$948,240$237,060$56,894$654,286
3$995,652$248,913$59,739$687,000
4$1,045,435$261,359$62,726$721,350
5$1,097,707$274,427$65,862$757,418
6$1,152,592$288,148$69,156$795,289
7$1,210,222$302,555$72,613$835,053
8$1,270,733$317,683$76,244$876,806
9$1,334,270$333,567$80,056$920,646
10$1,400,983$350,246$84,059$966,678
11$1,471,032$367,758$88,262$1,015,012
12$1,544,584$386,146$92,675$1,065,763
13$1,621,813$405,453$97,309$1,119,051
14$1,702,904$425,726$102,174$1,175,003
15$1,788,049$447,012$107,283$1,233,754
16$1,877,451$469,363$112,647$1,295,441
17$1,971,324$492,831$118,279$1,360,213
18$2,069,890$517,472$124,193$1,428,224
19$2,173,384$543,346$130,403$1,499,635
20$2,282,054$570,513$136,923$1,574,617
21$2,396,156$599,039$143,769$1,653,348
22$2,515,964$628,991$150,958$1,736,015
23$2,641,762$660,441$158,506$1,822,816
24$2,773,850$693,463$166,431$1,913,957
25$2,912,543$728,136$174,753$2,009,655
26$3,058,170$764,543$183,490$2,110,137
27$3,211,079$802,770$192,665$2,215,644
28$3,371,633$842,908$202,298$2,326,426
29$3,540,214$885,054$212,413$2,442,748
30$3,717,225$929,306$223,033$2,564,885
Total$60,000,000$15,000,000$3,600,000$41,400,000
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