USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jul 11, 2020

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2021 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 $78,300,000 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, Jul 11, 2020
Jackpot:$78,300,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,178,527$400,127$67,765$710,635
2$1,237,454$421,930$71,154$744,370
3$1,299,326$444,823$74,711$779,792
4$1,364,293$468,861$78,447$816,985
5$1,432,507$494,100$82,369$856,038
6$1,504,133$520,601$86,488$897,044
7$1,579,339$548,428$90,812$940,100
8$1,658,306$577,646$95,353$985,308
9$1,741,222$608,324$100,120$1,032,777
10$1,828,283$640,537$105,126$1,082,620
11$1,919,697$674,360$110,383$1,134,954
12$2,015,682$709,874$115,902$1,189,906
13$2,116,466$747,165$121,697$1,247,604
14$2,222,289$786,319$127,782$1,308,188
15$2,333,404$827,432$134,171$1,371,801
16$2,450,074$870,600$140,879$1,438,595
17$2,572,577$915,926$147,923$1,508,728
18$2,701,206$963,519$155,319$1,582,368
19$2,836,267$1,013,491$163,085$1,659,690
20$2,978,080$1,065,962$171,240$1,740,879
21$3,126,984$1,121,056$179,802$1,826,126
22$3,283,333$1,178,906$188,792$1,915,636
23$3,447,500$1,239,647$198,231$2,009,621
24$3,619,875$1,303,426$208,143$2,108,306
25$3,800,869$1,370,394$218,550$2,211,925
26$3,990,912$1,440,710$229,477$2,320,725
27$4,190,458$1,514,542$240,951$2,434,965
28$4,399,980$1,592,065$252,999$2,554,917
29$4,619,979$1,673,465$265,649$2,680,866
30$4,850,978$1,758,934$278,931$2,813,113
Total$78,300,000$27,893,170$4,502,251$45,904,582

◄ Back to Jackpot Analysis

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.