USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for May 25, 2013

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The tax information provided here is based on 2025 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 $50,000,000 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, May 25, 2013
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$286,877$51,262$553,366
2$927,165$300,071$53,312$573,782
3$964,252$313,793$55,444$595,014
4$1,002,822$328,064$57,662$617,095
5$1,042,935$342,906$59,969$640,060
6$1,084,652$358,342$62,367$663,943
7$1,128,038$374,394$64,862$688,782
8$1,173,160$391,089$67,457$714,614
9$1,220,086$408,452$70,155$741,479
10$1,268,890$426,509$72,961$769,419
11$1,319,645$445,289$75,880$798,477
12$1,372,431$464,820$78,915$828,696
13$1,427,328$485,132$82,071$860,125
14$1,484,421$506,256$85,354$892,811
15$1,543,798$528,226$88,768$926,804
16$1,605,550$551,074$92,319$962,157
17$1,669,772$574,836$96,012$998,924
18$1,736,563$599,549$99,852$1,037,162
19$1,806,025$625,250$103,846$1,076,929
20$1,878,266$651,979$108,000$1,118,287
21$1,953,397$679,777$112,320$1,161,300
22$2,031,533$708,687$116,813$1,206,032
23$2,112,794$738,754$121,486$1,252,555
24$2,197,306$770,024$126,345$1,300,938
25$2,285,198$802,544$131,399$1,351,256
26$2,376,606$836,365$136,655$1,403,587
27$2,471,671$871,538$142,121$1,458,011
28$2,570,537$908,119$147,806$1,514,612
29$2,673,359$946,163$153,718$1,573,478
30$2,780,293$985,729$159,867$1,634,698
Total$50,000,000$17,210,608$2,874,998$29,914,393

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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.