USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for May 18, 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 $98,900,000 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:Wed, May 18, 2011
Jackpot:$98,900,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,763,397$610,645$101,395$1,051,357
2$1,833,933$636,743$105,451$1,091,739
3$1,907,290$663,885$109,669$1,133,736
4$1,983,582$692,113$114,056$1,177,413
5$2,062,925$721,470$118,618$1,222,837
6$2,145,442$752,001$123,363$1,270,078
7$2,231,260$783,754$128,297$1,319,208
8$2,320,510$816,776$133,429$1,370,304
9$2,413,330$851,120$138,766$1,423,444
10$2,509,864$886,837$144,317$1,478,709
11$2,610,258$923,983$150,090$1,536,185
12$2,714,668$962,615$156,093$1,595,960
13$2,823,255$1,002,792$162,337$1,658,126
14$2,936,185$1,044,576$168,831$1,722,778
15$3,053,633$1,088,032$175,584$1,790,017
16$3,175,778$1,133,226$182,607$1,859,945
17$3,302,809$1,180,227$189,912$1,932,670
18$3,434,922$1,229,109$197,508$2,008,305
19$3,572,318$1,279,946$205,408$2,086,965
20$3,715,211$1,332,816$213,625$2,168,771
21$3,863,820$1,387,801$222,170$2,253,849
22$4,018,372$1,444,986$231,056$2,342,330
23$4,179,107$1,504,457$240,299$2,434,351
24$4,346,272$1,566,308$249,911$2,530,053
25$4,520,122$1,630,633$259,907$2,629,582
26$4,700,927$1,697,531$270,303$2,733,093
27$4,888,964$1,767,105$281,115$2,840,744
28$5,084,523$1,839,461$292,360$2,952,702
29$5,287,904$1,914,712$304,054$3,069,137
30$5,499,420$1,992,973$316,217$3,190,230
Total$98,900,000$35,338,633$5,686,748$57,874,618

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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.