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Powerball Annuity Jackpot Analysis for Vermont (Jan. 5, 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 $69,000,000 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. 5, 2019
Jackpot:$69,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,038,549$249,252$62,313$726,984
2$1,090,476$261,714$65,429$763,334
3$1,145,000$274,800$68,700$801,500
4$1,202,250$288,540$72,135$841,575
5$1,262,363$302,967$75,742$883,654
6$1,325,481$318,115$79,529$927,837
7$1,391,755$334,021$83,505$974,229
8$1,461,343$350,722$87,681$1,022,940
9$1,534,410$368,258$92,065$1,074,087
10$1,611,130$386,671$96,668$1,127,791
11$1,691,687$406,005$101,501$1,184,181
12$1,776,271$426,305$106,576$1,243,390
13$1,865,085$447,620$111,905$1,305,559
14$1,958,339$470,001$117,500$1,370,837
15$2,056,256$493,501$123,375$1,439,379
16$2,159,069$518,177$129,544$1,511,348
17$2,267,022$544,085$136,021$1,586,916
18$2,380,373$571,290$142,822$1,666,261
19$2,499,392$599,854$149,964$1,749,574
20$2,624,362$629,847$157,462$1,837,053
21$2,755,580$661,339$165,335$1,928,906
22$2,893,359$694,406$173,602$2,025,351
23$3,038,027$729,126$182,282$2,126,619
24$3,189,928$765,583$191,396$2,232,950
25$3,349,424$803,862$200,965$2,344,597
26$3,516,896$844,055$211,014$2,461,827
27$3,692,740$886,258$221,564$2,584,918
28$3,877,377$930,571$232,643$2,714,164
29$4,071,246$977,099$244,275$2,849,872
30$4,274,809$1,025,954$256,489$2,992,366
Total$69,000,000$16,560,000$4,140,000$48,300,000
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