USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jan 11, 2012

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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 $54,400,000 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, Jan 11, 2012
Jackpot:$54,400,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$969,957$317,072$55,773$597,113
2$1,008,756$331,427$58,003$619,325
3$1,049,106$346,357$60,324$642,425
4$1,091,070$361,884$62,737$666,450
5$1,134,713$378,032$65,246$691,435
6$1,180,101$394,825$67,856$717,420
7$1,227,306$412,291$70,570$744,445
8$1,276,398$430,455$73,393$772,550
9$1,327,454$449,346$76,329$801,779
10$1,380,552$468,992$79,382$832,178
11$1,435,774$489,424$82,557$863,793
12$1,493,205$510,674$85,859$896,672
13$1,552,933$532,773$89,294$930,866
14$1,615,050$555,756$92,865$966,429
15$1,679,652$579,659$96,580$1,003,413
16$1,746,838$604,518$100,443$1,041,877
17$1,816,712$630,371$104,461$1,081,880
18$1,889,380$657,259$108,639$1,123,483
19$1,964,956$685,221$112,985$1,166,749
20$2,043,554$714,303$117,504$1,211,747
21$2,125,296$744,547$122,205$1,258,544
22$2,210,308$776,002$127,093$1,307,214
23$2,298,720$808,714$132,176$1,357,830
24$2,390,669$842,735$137,463$1,410,470
25$2,486,296$878,117$142,962$1,465,217
26$2,585,748$914,914$148,680$1,522,153
27$2,689,178$953,183$154,628$1,581,366
28$2,796,745$992,983$160,813$1,642,949
29$2,908,614$1,034,375$167,245$1,706,994
30$3,024,959$1,077,423$173,935$1,773,601
Total$54,400,000$18,873,632$3,128,000$32,398,367

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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.