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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 $142,000,000 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 27, 2016
Jackpot:$142,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,137,304$534,326$128,238$1,474,740
2$2,244,169$561,042$134,650$1,548,477
3$2,356,377$589,094$141,383$1,625,900
4$2,474,196$618,549$148,452$1,707,195
5$2,597,906$649,477$155,874$1,792,555
6$2,727,801$681,950$163,668$1,882,183
7$2,864,192$716,048$171,851$1,976,292
8$3,007,401$751,850$180,444$2,075,107
9$3,157,771$789,443$189,466$2,178,862
10$3,315,660$828,915$198,940$2,287,805
11$3,481,443$870,361$208,887$2,402,195
12$3,655,515$913,879$219,331$2,522,305
13$3,838,291$959,573$230,297$2,648,420
14$4,030,205$1,007,551$241,812$2,780,842
15$4,231,715$1,057,929$253,903$2,919,884
16$4,443,301$1,110,825$266,598$3,065,878
17$4,665,466$1,166,367$279,928$3,219,172
18$4,898,739$1,224,685$293,924$3,380,130
19$5,143,676$1,285,919$308,621$3,549,137
20$5,400,860$1,350,215$324,052$3,726,594
21$5,670,903$1,417,726$340,254$3,912,923
22$5,954,448$1,488,612$357,267$4,108,569
23$6,252,171$1,563,043$375,130$4,313,998
24$6,564,779$1,641,195$393,887$4,529,698
25$6,893,018$1,723,255$413,581$4,756,183
26$7,237,669$1,809,417$434,260$4,993,992
27$7,599,553$1,899,888$455,973$5,243,691
28$7,979,530$1,994,883$478,772$5,505,876
29$8,378,507$2,094,627$502,710$5,781,170
30$8,797,432$2,199,358$527,846$6,070,228
Total$142,000,000$35,500,000$8,520,000$97,980,000
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