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Virginia Powerball Jackpot Annuity Payout Schedule for Oct 19, 2011

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The tax information provided here is based on 2024 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 $125,800,000 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 19, 2011
Jackpot:$125,800,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,243,026$788,108$128,974$1,325,945
2$2,332,748$821,304$134,133$1,377,310
3$2,426,057$855,829$139,498$1,430,730
4$2,523,100$891,735$145,078$1,486,287
5$2,624,024$929,077$150,881$1,544,066
6$2,728,985$967,912$156,917$1,604,156
7$2,838,144$1,008,301$163,193$1,666,650
8$2,951,670$1,050,306$169,721$1,731,643
9$3,069,737$1,093,990$176,510$1,799,236
10$3,192,526$1,139,422$183,570$1,869,533
11$3,320,227$1,186,672$190,913$1,942,642
12$3,453,036$1,235,811$198,550$2,018,675
13$3,591,158$1,286,916$206,492$2,097,750
14$3,734,804$1,340,065$214,751$2,179,988
15$3,884,196$1,395,340$223,341$2,265,515
16$4,039,564$1,452,826$232,275$2,354,463
17$4,201,147$1,512,612$241,566$2,446,969
18$4,369,192$1,574,789$251,229$2,543,175
19$4,543,960$1,639,453$261,278$2,643,229
20$4,725,718$1,706,704$271,729$2,747,286
21$4,914,747$1,776,644$282,598$2,855,505
22$5,111,337$1,849,382$293,902$2,968,053
23$5,315,791$1,925,030$305,658$3,085,102
24$5,528,422$2,003,704$317,884$3,206,834
25$5,749,559$2,085,525$330,600$3,333,435
26$5,979,541$2,170,618$343,824$3,465,100
27$6,218,723$2,259,115$357,577$3,602,031
28$6,467,472$2,351,152$371,880$3,744,440
29$6,726,171$2,446,871$386,755$3,892,545
30$6,995,218$2,546,418$402,225$4,046,574
Total$125,800,000$45,291,631$7,233,502$73,274,867

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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.