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Virginia Powerball Jackpot Annuity Payout Schedule for Nov 6, 2023

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The tax information provided here is based on 2025 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 $181,900,000 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:Mon, Nov 6, 2023
Jackpot:$181,900,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,737,856$970,027$157,427$1,610,402
2$2,874,749$1,020,677$165,298$1,688,773
3$3,018,486$1,073,860$173,563$1,771,063
4$3,169,411$1,129,702$182,241$1,857,467
5$3,327,881$1,188,336$191,353$1,948,192
6$3,494,275$1,249,902$200,921$2,043,452
7$3,668,989$1,314,546$210,967$2,143,476
8$3,852,438$1,382,422$221,515$2,248,501
9$4,045,060$1,453,693$232,591$2,358,777
10$4,247,313$1,528,526$244,221$2,474,567
11$4,459,679$1,607,101$256,432$2,596,146
12$4,682,663$1,689,606$269,253$2,723,804
13$4,916,796$1,776,235$282,716$2,857,846
14$5,162,636$1,867,196$296,852$2,998,589
15$5,420,768$1,962,704$311,694$3,146,369
16$5,691,806$2,062,989$327,279$3,301,539
17$5,976,396$2,168,287$343,643$3,464,467
18$6,275,216$2,278,850$360,825$3,635,541
19$6,588,977$2,394,942$378,866$3,815,169
20$6,918,426$2,516,838$397,809$4,003,779
21$7,264,347$2,644,829$417,700$4,201,818
22$7,627,564$2,779,219$438,585$4,409,760
23$8,008,943$2,920,329$460,514$4,628,099
24$8,409,390$3,068,494$483,540$4,857,355
25$8,829,859$3,224,068$507,717$5,098,074
26$9,271,352$3,387,421$533,103$5,350,829
27$9,734,920$3,558,941$559,758$5,616,221
28$10,221,666$3,739,037$587,746$5,894,883
29$10,732,749$3,928,137$617,133$6,187,479
30$11,269,387$4,126,693$647,990$6,494,704
Total$181,900,000$66,013,607$10,459,252$105,427,141

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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.