USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Nov 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 $59,900,000 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, Nov 19, 2011
Jackpot:$59,900,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,068,023$353,356$61,411$653,255
2$1,110,744$369,163$63,868$677,713
3$1,155,174$385,602$66,422$703,149
4$1,201,381$402,699$69,079$729,603
5$1,249,436$420,479$71,843$757,114
6$1,299,413$438,971$74,716$785,726
7$1,351,390$458,202$77,705$815,483
8$1,405,445$478,203$80,813$846,430
9$1,461,663$499,003$84,046$878,614
10$1,520,130$520,636$87,407$912,086
11$1,580,935$543,134$90,904$946,897
12$1,644,172$566,531$94,540$983,101
13$1,709,939$590,865$98,322$1,020,752
14$1,778,337$616,172$102,254$1,059,910
15$1,849,470$642,492$106,345$1,100,634
16$1,923,449$669,864$110,598$1,142,987
17$2,000,387$698,331$115,022$1,187,034
18$2,080,402$727,937$119,623$1,232,843
19$2,163,619$758,727$124,408$1,280,484
20$2,250,163$790,748$129,384$1,330,031
21$2,340,170$824,051$134,560$1,381,559
22$2,433,777$858,685$139,942$1,435,149
23$2,531,128$894,705$145,540$1,490,883
24$2,632,373$932,166$151,361$1,548,846
25$2,737,668$971,125$157,416$1,609,127
26$2,847,174$1,011,642$163,713$1,671,820
27$2,961,061$1,053,780$170,261$1,737,020
28$3,079,504$1,097,604$177,071$1,804,828
29$3,202,684$1,143,181$184,154$1,875,349
30$3,330,791$1,190,581$191,520$1,948,690
Total$59,900,000$20,908,635$3,444,248$35,547,117

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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.