USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Dec 31, 2011

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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 $25,000,000 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, Dec 31, 2011
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$445,752$125,561$25,631$294,561
2$463,583$131,801$26,656$305,125
3$482,126$138,291$27,722$316,112
4$501,411$145,041$28,831$327,539
5$521,467$152,061$29,984$339,422
6$542,326$159,361$31,184$351,781
7$564,019$166,954$32,431$364,634
8$586,580$174,850$33,728$378,001
9$610,043$183,062$35,077$391,903
10$634,445$191,765$36,481$406,199
11$659,823$201,155$37,940$420,728
12$686,215$210,920$39,457$435,838
13$713,664$221,076$41,036$451,552
14$742,211$231,638$42,677$467,895
15$771,899$242,623$44,384$484,892
16$802,775$254,047$46,160$502,568
17$834,886$265,928$48,006$520,952
18$868,281$278,284$49,926$540,071
19$903,013$291,135$51,923$559,955
20$939,133$304,500$54,000$580,634
21$976,699$318,399$56,160$602,140
22$1,015,767$332,854$58,407$624,506
23$1,056,397$347,887$60,743$647,767
24$1,098,653$363,522$63,173$671,959
25$1,142,599$379,782$65,699$697,118
26$1,188,303$396,692$68,327$723,283
27$1,235,835$414,279$71,061$750,495
28$1,285,269$432,570$73,903$778,796
29$1,336,679$451,592$76,859$808,229
30$1,390,147$471,374$79,933$838,839
Total$25,000,000$7,979,004$1,437,499$15,583,494

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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.