USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Nov 7, 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 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 $2,040,100,000 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:Mon, Nov 7, 2022
Jackpot:$2,040,100,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$30,706,433$11,319,568$1,765,620$17,621,245
2$32,241,755$11,887,637$1,853,901$18,500,217
3$33,853,842$12,484,109$1,946,596$19,423,137
4$35,546,535$13,110,406$2,043,926$20,392,204
5$37,323,860$13,768,016$2,146,122$21,409,722
6$39,190,054$14,458,508$2,253,428$22,478,118
7$41,149,558$15,183,524$2,366,100$23,599,934
8$43,207,035$15,944,791$2,484,405$24,777,840
9$45,367,387$16,744,121$2,608,625$26,014,641
10$47,635,756$17,583,417$2,739,056$27,313,282
11$50,017,544$18,464,679$2,876,009$28,676,856
12$52,518,421$19,390,003$3,019,809$30,108,608
13$55,144,342$20,361,594$3,170,800$31,611,948
14$57,901,559$21,381,765$3,329,340$33,190,455
15$60,796,637$22,452,943$3,495,807$34,847,887
16$63,836,469$23,577,681$3,670,597$36,588,191
17$67,028,291$24,758,656$3,854,127$38,415,509
18$70,379,706$25,998,679$4,046,833$40,334,194
19$73,898,691$27,300,704$4,249,175$42,348,813
20$77,593,627$28,667,830$4,461,634$44,464,163
21$81,473,307$30,103,311$4,684,715$46,685,281
22$85,546,973$31,610,568$4,918,951$49,017,454
23$89,824,322$33,193,187$5,164,899$51,466,236
24$94,315,537$34,854,936$5,423,143$54,037,457
25$99,031,314$36,599,774$5,694,301$56,737,239
26$103,982,881$38,431,854$5,979,016$59,572,012
27$109,182,025$40,355,537$6,277,966$62,548,521
28$114,641,124$42,375,404$6,591,865$65,673,856
29$120,373,181$44,496,265$6,921,458$68,955,458
30$126,391,841$46,723,169$7,267,531$72,401,141
Total$2,040,100,004$753,582,636$117,305,755$1,169,211,619

◄ 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.