USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Nov 23, 2022

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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 $32,200,000 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:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$27,868$313,406
2$508,889$151,864$29,261$327,764
3$534,333$160,770$30,724$342,840
4$561,050$170,544$32,260$358,246
5$589,103$180,923$33,873$374,306
6$618,558$191,821$35,567$391,169
7$649,486$203,265$37,345$408,876
8$681,960$215,280$39,213$427,467
9$716,058$227,896$41,173$446,988
10$751,861$241,144$43,232$467,485
11$789,454$255,053$45,394$489,007
12$828,927$269,658$47,663$511,605
13$870,373$284,993$50,046$535,333
14$913,892$301,095$52,549$560,248
15$959,586$318,002$55,176$586,408
16$1,007,565$335,754$57,935$613,876
17$1,057,944$354,394$60,832$642,718
18$1,110,841$373,966$63,873$673,001
19$1,166,383$394,517$67,067$704,799
20$1,224,702$416,095$70,420$738,187
21$1,285,937$438,752$73,941$773,244
22$1,350,234$462,542$77,638$810,054
23$1,417,746$487,521$81,520$848,704
24$1,488,633$513,749$85,596$889,287
25$1,563,065$541,289$89,876$931,900
26$1,641,218$570,206$94,370$976,642
27$1,723,279$600,568$99,089$1,023,622
28$1,809,443$632,449$104,043$1,072,951
29$1,899,915$665,924$109,245$1,124,746
30$1,994,911$701,072$114,707$1,179,131
Total$32,200,000$10,804,489$1,851,496$19,544,010

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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.