USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Oct 27, 2004

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The tax information provided here is based on 2025 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $20,300,000 for a ticket purchased in Virginia, 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Virginia

Drawing Date:Wed, Oct 27, 2004
Jackpot:$20,300,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,951$96,230$20,812$244,909
2$376,429$101,297$21,645$253,487
3$391,486$106,567$22,510$262,408
4$407,146$112,048$23,411$271,687
5$423,431$117,748$24,347$281,336
6$440,369$123,676$25,321$291,371
7$457,983$129,841$26,334$301,808
8$476,303$136,253$27,387$312,662
9$495,355$142,921$28,483$323,951
10$515,169$149,856$29,622$335,690
11$535,776$157,069$30,807$347,900
12$557,207$164,570$32,039$360,598
13$579,495$172,371$33,321$373,804
14$602,675$180,484$34,654$387,538
15$626,782$188,930$36,040$401,812
16$651,853$198,206$37,482$416,166
17$677,927$207,853$38,981$431,093
18$705,045$217,887$40,540$446,618
19$733,246$228,321$42,162$462,763
20$762,576$239,173$43,848$479,555
21$793,079$250,460$45,602$497,018
22$824,802$262,197$47,426$515,179
23$857,795$274,404$49,323$534,067
24$892,106$287,100$51,296$553,711
25$927,791$300,303$53,348$574,140
26$964,902$314,034$55,482$595,386
27$1,003,498$328,315$57,701$617,482
28$1,043,638$343,166$60,009$640,463
29$1,085,384$358,612$62,410$664,362
30$1,128,799$374,676$64,906$689,217
Total$20,300,000$6,264,568$1,167,249$12,868,181

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.