USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Nov 26, 2022

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

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 $45,700,000 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, Nov 26, 2022
Jackpot:$45,700,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$687,851$217,460$39,551$430,839
2$722,243$230,185$41,529$450,529
3$758,355$243,546$43,605$471,203
4$796,273$257,576$45,786$492,911
5$836,087$272,307$48,075$515,705
6$877,891$287,775$50,479$539,638
7$921,786$304,016$53,003$564,767
8$967,875$321,069$55,653$591,153
9$1,016,269$338,974$58,435$618,859
10$1,067,082$357,775$61,357$647,949
11$1,120,436$377,516$64,425$678,495
12$1,176,458$398,244$67,646$710,567
13$1,235,281$420,009$71,029$744,243
14$1,297,045$442,862$74,580$779,603
15$1,361,897$466,857$78,309$816,731
16$1,429,992$492,052$82,225$855,715
17$1,501,492$518,507$86,336$896,649
18$1,576,566$546,284$90,653$939,629
19$1,655,394$575,451$95,185$984,758
20$1,738,164$606,076$99,944$1,032,144
21$1,825,072$638,232$104,942$1,081,899
22$1,916,326$671,996$110,189$1,134,142
23$2,012,142$707,448$115,698$1,188,996
24$2,112,749$744,672$121,483$1,246,594
25$2,218,387$783,758$127,557$1,307,071
26$2,329,306$824,798$133,935$1,370,573
27$2,445,772$867,890$140,632$1,437,249
28$2,568,060$913,137$147,663$1,507,259
29$2,696,463$960,646$155,047$1,580,770
30$2,831,286$1,010,531$162,799$1,657,956
Total$45,700,000$15,797,649$2,627,750$27,274,596

◄ 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.