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Powerball Annuity Jackpot Analysis for Vermont (Jan. 16, 2019 Drawing)

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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 $112,000,000 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:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$101,146$1,180,033
2$1,770,049$424,812$106,203$1,239,034
3$1,858,551$446,052$111,513$1,300,986
4$1,951,479$468,355$117,089$1,366,035
5$2,049,053$491,773$122,943$1,434,337
6$2,151,505$516,361$129,090$1,506,054
7$2,259,081$542,179$135,545$1,581,356
8$2,372,035$569,288$142,322$1,660,424
9$2,490,636$597,753$149,438$1,743,445
10$2,615,168$627,640$156,910$1,830,618
11$2,745,927$659,022$164,756$1,922,149
12$2,883,223$691,974$172,993$2,018,256
13$3,027,384$726,572$181,643$2,119,169
14$3,178,753$762,901$190,725$2,225,127
15$3,337,691$801,046$200,261$2,336,384
16$3,504,576$841,098$210,275$2,453,203
17$3,679,804$883,153$220,788$2,575,863
18$3,863,794$927,311$231,828$2,704,656
19$4,056,984$973,676$243,419$2,839,889
20$4,259,833$1,022,360$255,590$2,981,883
21$4,472,825$1,073,478$268,370$3,130,978
22$4,696,466$1,127,152$281,788$3,287,526
23$4,931,290$1,183,510$295,877$3,451,903
24$5,177,854$1,242,685$310,671$3,624,498
25$5,436,747$1,304,819$326,205$3,805,723
26$5,708,584$1,370,060$342,515$3,996,009
27$5,994,013$1,438,563$359,641$4,195,809
28$6,293,714$1,510,491$377,623$4,405,600
29$6,608,400$1,586,016$396,504$4,625,880
30$6,938,820$1,665,317$416,329$4,857,174
Total$112,000,000$26,880,000$6,720,000$78,400,000
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