USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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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 $632,600,000 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 money, as well as deductions claimed.

State:

Virginia

Drawing Date:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,481,157$547,488$5,492,893
2$9,997,615$3,657,305$574,863$5,765,447
3$10,497,495$3,842,261$603,606$6,051,628
4$11,022,371$4,036,465$633,786$6,352,119
5$11,573,488$4,240,378$665,476$6,667,634
6$12,152,163$4,454,488$698,749$6,998,926
7$12,759,772$4,679,303$733,687$7,346,782
8$13,397,760$4,915,359$770,371$7,712,030
9$14,067,648$5,163,218$808,890$8,095,541
10$14,771,030$5,423,469$849,334$8,498,227
11$15,509,582$5,696,733$891,801$8,921,048
12$16,285,061$5,983,660$936,391$9,365,010
13$17,099,314$6,284,934$983,211$9,831,170
14$17,954,280$6,601,271$1,032,371$10,320,637
15$18,851,994$6,933,425$1,083,990$10,834,579
16$19,794,594$7,282,187$1,138,189$11,374,217
17$20,784,323$7,648,387$1,195,099$11,940,837
18$21,823,539$8,032,897$1,254,854$12,535,788
19$22,914,716$8,436,633$1,317,596$13,160,487
20$24,060,452$8,860,555$1,383,476$13,816,421
21$25,263,474$9,305,673$1,452,650$14,505,151
22$26,526,648$9,773,048$1,525,282$15,228,318
23$27,852,981$10,263,791$1,601,546$15,987,644
24$29,245,629$10,779,071$1,681,624$16,784,935
25$30,707,911$11,320,115$1,765,705$17,622,091
26$32,243,307$11,888,211$1,853,990$18,501,105
27$33,855,472$12,484,712$1,946,690$19,424,070
28$35,548,245$13,111,039$2,044,024$20,393,183
29$37,325,658$13,768,681$2,146,225$21,410,751
30$39,191,941$14,459,206$2,253,537$22,479,198
Total$632,600,001$232,807,632$36,374,501$363,417,867

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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.