USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for May 14, 2005

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $112,000,000 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:Sat, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$695,900$114,826$1,186,246
2$2,076,850$725,455$119,419$1,231,976
3$2,159,924$756,192$124,196$1,279,536
4$2,246,321$788,159$129,163$1,328,998
5$2,336,174$821,405$134,330$1,380,439
6$2,429,621$855,980$139,703$1,433,938
7$2,526,806$891,938$145,291$1,489,576
8$2,627,878$929,335$151,103$1,547,440
9$2,732,993$968,228$157,147$1,607,618
10$2,842,313$1,008,676$163,433$1,670,204
11$2,956,005$1,050,742$169,970$1,735,293
12$3,074,245$1,094,491$176,769$1,802,985
13$3,197,215$1,139,990$183,840$1,873,385
14$3,325,104$1,187,309$191,193$1,946,602
15$3,458,108$1,236,520$198,841$2,022,746
16$3,596,432$1,287,700$206,795$2,101,937
17$3,740,289$1,340,927$215,067$2,184,295
18$3,889,901$1,396,284$223,669$2,269,948
19$4,045,497$1,453,854$232,616$2,359,027
20$4,207,317$1,513,728$241,921$2,451,669
21$4,375,610$1,575,996$251,598$2,548,016
22$4,550,634$1,640,755$261,661$2,648,218
23$4,732,659$1,708,104$272,128$2,752,427
24$4,921,966$1,778,148$283,013$2,860,805
25$5,118,844$1,850,993$294,334$2,973,518
26$5,323,598$1,926,752$306,107$3,090,740
27$5,536,542$2,005,541$318,351$3,212,650
28$5,758,004$2,087,482$331,085$3,339,437
29$5,988,324$2,172,700$344,329$3,471,295
30$6,227,857$2,261,327$358,102$3,608,428
Total$112,000,000$40,150,611$6,440,000$65,409,392

◄ Back to Jackpot Analysis

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.