USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jun 29, 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 $77,100,000 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, Jun 29, 2011
Jackpot:$77,100,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,374,701$466,827$79,045$828,828
2$1,429,689$487,173$82,207$860,309
3$1,486,876$508,332$85,495$893,049
4$1,546,351$530,338$88,915$927,098
5$1,608,205$553,224$92,472$962,510
6$1,672,534$577,025$96,171$999,338
7$1,739,435$601,779$100,018$1,037,639
8$1,809,012$627,522$104,018$1,077,472
9$1,881,373$654,296$108,179$1,118,898
10$1,956,628$682,140$112,506$1,161,982
11$2,034,893$711,098$117,006$1,206,788
12$2,116,288$741,214$121,687$1,253,387
13$2,200,940$772,536$126,554$1,301,850
14$2,288,978$805,109$131,616$1,352,252
15$2,380,537$838,986$136,881$1,404,670
16$2,475,758$874,218$142,356$1,459,184
17$2,574,789$910,860$148,050$1,515,879
18$2,677,780$948,966$153,972$1,574,841
19$2,784,891$988,598$160,131$1,636,163
20$2,896,287$1,029,814$166,536$1,699,937
21$3,012,138$1,072,679$173,198$1,766,261
22$3,132,624$1,117,259$180,126$1,835,239
23$3,257,929$1,163,621$187,331$1,906,977
24$3,388,246$1,211,839$194,824$1,981,583
25$3,523,776$1,261,985$202,617$2,059,174
26$3,664,727$1,314,137$210,722$2,139,868
27$3,811,316$1,368,375$219,151$2,223,791
28$3,963,769$1,424,782$227,917$2,311,070
29$4,122,319$1,483,446$237,033$2,401,840
30$4,287,212$1,544,456$246,515$2,496,241
Total$77,100,000$27,272,634$4,433,249$45,394,118

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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.