USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jun 2, 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 $158,800,000 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, Jun 2, 2012
Jackpot:$158,800,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,831,420$1,005,813$162,807$1,662,800
2$2,944,677$1,047,718$169,319$1,727,640
3$3,062,464$1,091,299$176,092$1,795,073
4$3,184,962$1,136,624$183,135$1,865,203
5$3,312,361$1,183,761$190,461$1,938,139
6$3,444,855$1,232,784$198,079$2,013,992
7$3,582,649$1,283,768$206,002$2,092,879
8$3,725,955$1,336,791$214,242$2,174,922
9$3,874,993$1,391,935$222,812$2,260,246
10$4,029,993$1,449,285$231,725$2,348,983
11$4,191,193$1,508,929$240,994$2,441,270
12$4,358,841$1,570,959$250,633$2,537,248
13$4,533,194$1,635,470$260,659$2,637,066
14$4,714,522$1,702,561$271,085$2,740,876
15$4,903,103$1,772,336$281,928$2,848,839
16$5,099,227$1,844,902$293,206$2,961,120
17$5,303,196$1,920,370$304,934$3,077,892
18$5,515,324$1,998,858$317,131$3,199,335
19$5,735,937$2,080,484$329,816$3,325,636
20$5,965,374$2,165,376$343,009$3,456,989
21$6,203,989$2,253,664$356,729$3,593,596
22$6,452,149$2,345,483$370,999$3,735,667
23$6,710,235$2,440,975$385,839$3,883,422
24$6,978,644$2,540,286$401,272$4,037,086
25$7,257,790$2,643,570$417,323$4,196,897
26$7,548,102$2,750,985$434,016$4,363,100
27$7,850,026$2,862,697$451,376$4,535,952
28$8,164,027$2,978,878$469,432$4,715,718
29$8,490,588$3,099,705$488,209$4,902,674
30$8,830,211$3,225,366$507,737$5,097,108
Total$158,800,000$57,501,632$9,131,001$92,167,368

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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.