USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jun 10, 2017

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The tax information provided here is based on 2022 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 prize 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$2,456,767$387,552$3,895,714
2$7,077,034$2,581,458$406,929$4,088,647
3$7,430,886$2,712,383$427,276$4,291,227
4$7,802,430$2,849,854$448,640$4,503,936
5$8,192,552$2,994,199$471,072$4,727,281
6$8,602,179$3,145,761$494,625$4,961,793
7$9,032,289$3,304,902$519,357$5,208,030
8$9,483,903$3,471,999$545,324$5,466,579
9$9,958,098$3,647,451$572,591$5,738,056
10$10,456,003$3,831,676$601,220$6,023,107
11$10,978,803$4,025,112$631,281$6,322,410
12$11,527,743$4,228,220$662,845$6,636,678
13$12,104,130$4,441,483$695,987$6,966,660
14$12,709,337$4,665,410$730,787$7,313,140
15$13,344,804$4,900,532$767,326$7,676,945
16$14,012,044$5,147,411$805,693$8,058,940
17$14,712,646$5,406,634$845,977$8,460,035
18$15,448,278$5,678,818$888,276$8,881,184
19$16,220,692$5,964,611$932,690$9,323,391
20$17,031,727$6,264,694$979,324$9,787,709
21$17,883,313$6,579,781$1,028,290$10,275,242
22$18,777,479$6,910,622$1,079,705$10,787,152
23$19,716,353$7,258,006$1,133,690$11,324,657
24$20,702,170$7,622,758$1,190,375$11,889,037
25$21,737,279$8,005,748$1,249,894$12,481,637
26$22,824,143$8,407,888$1,312,388$13,103,867
27$23,965,350$8,830,135$1,378,008$13,757,208
28$25,163,617$9,273,493$1,446,908$14,443,216
29$26,421,798$9,739,020$1,519,253$15,163,524
30$27,742,888$10,227,824$1,595,216$15,919,849
Total$447,800,001$164,574,650$25,748,499$257,476,851

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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.