USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Nov 25, 2023

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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 $337,900,000 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:Sat, Nov 25, 2023
Jackpot:$337,900,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,085,880$1,839,963$292,438$2,953,478
2$5,340,174$1,934,052$307,060$3,099,062
3$5,607,183$2,032,845$322,413$3,251,924
4$5,887,542$2,136,578$338,534$3,412,430
5$6,181,919$2,245,498$355,460$3,580,961
6$6,491,015$2,359,863$373,233$3,757,918
7$6,815,566$2,479,947$391,895$3,943,724
8$7,156,344$2,606,035$411,490$4,138,819
9$7,514,161$2,738,427$432,064$4,343,669
10$7,889,869$2,877,439$453,667$4,558,762
11$8,284,363$3,023,402$476,351$4,784,610
12$8,698,581$3,176,663$500,168$5,021,750
13$9,133,510$3,337,586$525,177$5,270,747
14$9,590,185$3,506,556$551,436$5,532,193
15$10,069,694$3,683,975$579,007$5,806,712
16$10,573,179$3,870,264$607,958$6,094,957
17$11,101,838$4,065,868$638,356$6,397,614
18$11,656,930$4,271,252$670,273$6,715,405
19$12,239,776$4,486,905$703,787$7,049,084
20$12,851,765$4,713,341$738,977$7,399,448
21$13,494,353$4,951,099$775,925$7,767,330
22$14,169,071$5,200,744$814,722$8,153,605
23$14,877,525$5,462,872$855,458$8,559,195
24$15,621,401$5,738,106$898,231$8,985,064
25$16,402,471$6,027,102$943,142$9,432,227
26$17,222,595$6,330,548$990,299$9,901,748
27$18,083,724$6,649,166$1,039,814$10,394,744
28$18,987,910$6,983,715$1,091,805$10,912,391
29$19,937,306$7,334,991$1,146,395$11,455,920
30$20,934,171$7,703,831$1,203,715$12,026,625
Total$337,900,001$123,768,633$19,429,250$194,702,116

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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.