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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 $415,000,000 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 7, 2016
Jackpot:$415,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,246,346$1,561,586$374,781$4,309,978
2$6,558,663$1,639,666$393,520$4,525,477
3$6,886,596$1,721,649$413,196$4,751,751
4$7,230,926$1,807,731$433,856$4,989,339
5$7,592,472$1,898,118$455,548$5,238,806
6$7,972,096$1,993,024$478,326$5,500,746
7$8,370,701$2,092,675$502,242$5,775,783
8$8,789,236$2,197,309$527,354$6,064,573
9$9,228,697$2,307,174$553,722$6,367,801
10$9,690,132$2,422,533$581,408$6,686,191
11$10,174,639$2,543,660$610,478$7,020,501
12$10,683,371$2,670,843$641,002$7,371,526
13$11,217,539$2,804,385$673,052$7,740,102
14$11,778,416$2,944,604$706,705$8,127,107
15$12,367,337$3,091,834$742,040$8,533,463
16$12,985,704$3,246,426$779,142$8,960,136
17$13,634,989$3,408,747$818,099$9,408,142
18$14,316,738$3,579,185$859,004$9,878,550
19$15,032,575$3,758,144$901,955$10,372,477
20$15,784,204$3,946,051$947,052$10,891,101
21$16,573,414$4,143,354$994,405$11,435,656
22$17,402,085$4,350,521$1,044,125$12,007,439
23$18,272,189$4,568,047$1,096,331$12,607,811
24$19,185,799$4,796,450$1,151,148$13,238,201
25$20,145,089$5,036,272$1,208,705$13,900,111
26$21,152,343$5,288,086$1,269,141$14,595,117
27$22,209,960$5,552,490$1,332,598$15,324,873
28$23,320,458$5,830,115$1,399,227$16,091,116
29$24,486,481$6,121,620$1,469,189$16,895,672
30$25,710,805$6,427,701$1,542,648$17,740,456
Total$415,000,001$103,750,000$24,900,000$286,350,001
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