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Powerball Annuity Jackpot Analysis for Vermont (Oct. 20, 2018 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 $476,700,000 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:  Oct. 20, 2018
Jackpot:$476,700,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,175,019$1,722,005$430,501$5,022,513
2$7,533,770$1,808,105$452,026$5,273,639
3$7,910,458$1,898,510$474,628$5,537,321
4$8,305,982$1,993,436$498,359$5,814,187
5$8,721,280$2,093,107$523,277$6,104,896
6$9,157,345$2,197,763$549,441$6,410,141
7$9,615,212$2,307,651$576,913$6,730,648
8$10,095,973$2,423,033$605,758$7,067,181
9$10,600,771$2,544,185$636,046$7,420,540
10$11,130,810$2,671,394$667,849$7,791,567
11$11,687,350$2,804,964$701,241$8,181,145
12$12,271,718$2,945,212$736,303$8,590,202
13$12,885,303$3,092,473$773,118$9,019,712
14$13,529,569$3,247,097$811,774$9,470,698
15$14,206,047$3,409,451$852,363$9,944,233
16$14,916,350$3,579,924$894,981$10,441,445
17$15,662,167$3,758,920$939,730$10,963,517
18$16,445,275$3,946,866$986,717$11,511,693
19$17,267,539$4,144,209$1,036,052$12,087,277
20$18,130,916$4,351,420$1,087,855$12,691,641
21$19,037,462$4,568,991$1,142,248$13,326,223
22$19,989,335$4,797,440$1,199,360$13,992,534
23$20,988,802$5,037,312$1,259,328$14,692,161
24$22,038,241$5,289,178$1,322,294$15,426,769
25$23,140,153$5,553,637$1,388,409$16,198,107
26$24,297,162$5,831,319$1,457,830$17,008,013
27$25,512,020$6,122,885$1,530,721$17,858,414
28$26,787,620$6,429,029$1,607,257$18,751,334
29$28,127,001$6,750,480$1,687,620$19,688,901
30$29,533,352$7,088,004$1,772,001$20,673,346
Total$476,700,001$114,408,000$28,602,000$333,690,001
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