USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jun 10, 2017

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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 $447,800,000 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 10, 2017
Jackpot:$447,800,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,740,033$2,452,000$387,552$3,900,481
2$7,077,034$2,576,690$406,929$4,093,414
3$7,430,886$2,707,616$427,276$4,295,994
4$7,802,430$2,845,087$448,640$4,508,704
5$8,192,552$2,989,432$471,072$4,732,048
6$8,602,179$3,140,994$494,625$4,966,560
7$9,032,289$3,300,135$519,357$5,212,797
8$9,483,903$3,467,232$545,324$5,471,347
9$9,958,098$3,642,684$572,591$5,742,823
10$10,456,003$3,826,909$601,220$6,027,874
11$10,978,803$4,020,345$631,281$6,327,177
12$11,527,743$4,223,453$662,845$6,641,445
13$12,104,130$4,436,716$695,987$6,971,427
14$12,709,337$4,660,642$730,787$7,317,908
15$13,344,804$4,895,765$767,326$7,681,712
16$14,012,044$5,142,644$805,693$8,063,707
17$14,712,646$5,401,867$845,977$8,464,802
18$15,448,278$5,674,051$888,276$8,885,952
19$16,220,692$5,959,844$932,690$9,328,158
20$17,031,727$6,259,927$979,324$9,792,476
21$17,883,313$6,575,014$1,028,290$10,280,009
22$18,777,479$6,905,855$1,079,705$10,791,919
23$19,716,353$7,253,238$1,133,690$11,329,424
24$20,702,170$7,617,991$1,190,375$11,893,805
25$21,737,279$8,000,981$1,249,894$12,486,404
26$22,824,143$8,403,121$1,312,388$13,108,634
27$23,965,350$8,825,367$1,378,008$13,761,975
28$25,163,617$9,268,726$1,446,908$14,447,983
29$26,421,798$9,734,253$1,519,253$15,168,292
30$27,742,888$10,223,056$1,595,216$15,924,616
Total$447,800,001$164,431,635$25,748,499$257,619,867

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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.