USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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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 $285,600,000 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 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$247,175$2,496,928
2$4,513,624$1,634,113$259,533$2,619,978
3$4,739,306$1,717,615$272,510$2,749,180
4$4,976,271$1,805,293$286,136$2,884,843
5$5,225,084$1,897,353$300,442$3,027,288
6$5,486,339$1,994,018$315,464$3,176,857
7$5,760,656$2,095,515$331,238$3,333,903
8$6,048,688$2,202,087$347,800$3,498,802
9$6,351,123$2,313,988$365,190$3,671,946
10$6,668,679$2,431,483$383,449$3,853,746
11$7,002,113$2,554,854$402,621$4,044,637
12$7,352,219$2,684,393$422,753$4,245,073
13$7,719,829$2,820,409$443,890$4,455,530
14$8,105,821$2,963,226$466,085$4,676,510
15$8,511,112$3,113,184$489,389$4,908,539
16$8,936,668$3,270,639$513,858$5,152,170
17$9,383,501$3,435,968$539,551$5,407,982
18$9,852,676$3,609,562$566,529$5,676,585
19$10,345,310$3,791,837$594,855$5,958,618
20$10,862,575$3,983,225$624,598$6,254,752
21$11,405,704$4,184,183$655,828$6,565,693
22$11,975,989$4,395,188$688,619$6,892,182
23$12,574,789$4,616,744$723,050$7,234,994
24$13,203,528$4,849,378$759,203$7,594,947
25$13,863,704$5,093,643$797,163$7,972,898
26$14,556,890$5,350,121$837,021$8,369,747
27$15,284,734$5,619,424$878,872$8,786,438
28$16,048,971$5,902,191$922,816$9,223,963
29$16,851,419$6,199,097$968,957$9,683,365
30$17,693,990$6,510,849$1,017,404$10,165,737
Total$285,600,001$104,594,167$16,421,999$164,583,831

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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.