USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for May 11, 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 $65,200,000 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, May 11, 2011
Jackpot:$65,200,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,162,522$388,321$66,845$707,356
2$1,209,023$405,526$69,519$733,978
3$1,257,384$423,420$72,300$761,665
4$1,307,680$442,029$75,192$790,459
5$1,359,987$461,383$78,199$820,405
6$1,414,386$481,511$81,327$851,548
7$1,470,962$502,444$84,580$883,938
8$1,529,800$524,214$87,964$917,623
9$1,590,992$546,855$91,482$952,655
10$1,654,632$570,402$95,141$989,089
11$1,720,817$594,890$98,947$1,026,980
12$1,789,650$620,358$102,905$1,066,387
13$1,861,236$646,845$107,021$1,107,370
14$1,935,685$674,391$111,302$1,149,992
15$2,013,113$703,039$115,754$1,194,319
16$2,093,637$732,834$120,384$1,240,420
17$2,177,383$763,819$125,200$1,288,364
18$2,264,478$796,045$130,207$1,338,226
19$2,355,057$829,559$135,416$1,390,083
20$2,449,259$864,414$140,832$1,444,013
21$2,547,230$900,663$146,466$1,500,101
22$2,649,119$938,362$152,324$1,558,433
23$2,755,084$977,569$158,417$1,619,098
24$2,865,287$1,018,344$164,754$1,682,189
25$2,979,899$1,060,750$171,344$1,747,804
26$3,099,095$1,104,853$178,198$1,816,044
27$3,223,058$1,150,719$185,326$1,887,013
28$3,351,981$1,198,421$192,739$1,960,821
29$3,486,060$1,248,030$200,448$2,037,582
30$3,625,502$1,299,624$208,466$2,117,412
Total$65,200,000$22,869,634$3,748,999$38,581,367

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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.