USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Jun 25, 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 $333,700,000 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, Jun 25, 2022
Jackpot:$333,700,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,022,664$1,821,341$288,803$2,912,520
2$5,273,797$1,914,260$303,243$3,056,294
3$5,537,487$2,011,825$318,405$3,207,256
4$5,814,361$2,114,269$334,326$3,365,767
5$6,105,079$2,221,834$351,042$3,532,203
6$6,410,333$2,334,778$368,594$3,706,961
7$6,730,850$2,453,370$387,024$3,890,457
8$7,067,393$2,577,890$406,375$4,083,127
9$7,420,762$2,708,637$426,694$4,285,431
10$7,791,800$2,845,921$448,029$4,497,851
11$8,181,390$2,990,069$470,430$4,720,891
12$8,590,460$3,141,425$493,951$4,955,083
13$9,019,983$3,300,349$518,649$5,200,985
14$9,470,982$3,467,218$544,581$5,459,182
15$9,944,531$3,642,431$571,811$5,730,289
16$10,441,758$3,826,405$600,401$6,014,951
17$10,963,845$4,019,578$630,421$6,313,846
18$11,512,038$4,222,409$661,942$6,627,687
19$12,087,639$4,435,382$695,039$6,957,219
20$12,692,022$4,659,003$729,791$7,303,227
21$13,326,623$4,893,805$766,281$7,666,536
22$13,992,954$5,140,348$804,595$8,048,011
23$14,692,601$5,399,218$844,825$8,448,559
24$15,427,231$5,671,031$887,066$8,869,135
25$16,198,593$5,956,434$931,419$9,310,739
26$17,008,523$6,256,108$977,990$9,774,424
27$17,858,949$6,570,766$1,026,890$10,261,293
28$18,751,896$6,901,157$1,078,234$10,772,506
29$19,689,491$7,248,067$1,132,146$11,309,279
30$20,673,966$7,612,322$1,188,753$11,872,890
Total$333,700,001$122,357,650$19,187,750$192,154,599

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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.