USA Mega

Virginia Powerball Jackpot Annuity Payout Schedule for Dec 30, 2024

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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 $166,000,000 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, Dec 30, 2024
Jackpot:$166,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,498,538$881,479$143,666$1,473,393
2$2,623,465$927,702$150,849$1,544,914
3$2,754,638$976,236$158,392$1,620,010
4$2,892,370$1,027,197$166,311$1,698,862
5$3,036,989$1,080,706$174,627$1,781,656
6$3,188,838$1,136,890$183,358$1,868,590
7$3,348,280$1,195,884$192,526$1,959,870
8$3,515,694$1,257,827$202,152$2,055,715
9$3,691,479$1,322,867$212,260$2,156,351
10$3,876,053$1,391,160$222,873$2,262,020
11$4,069,856$1,462,867$234,017$2,372,972
12$4,273,348$1,538,159$245,718$2,489,472
13$4,487,016$1,617,216$258,003$2,611,796
14$4,711,367$1,700,226$270,904$2,740,237
15$4,946,935$1,787,386$284,449$2,875,100
16$5,194,282$1,878,904$298,671$3,016,706
17$5,453,996$1,974,999$313,605$3,165,392
18$5,726,695$2,075,898$329,285$3,321,513
19$6,013,030$2,181,841$345,749$3,485,439
20$6,313,682$2,293,082$363,037$3,657,563
21$6,629,366$2,409,886$381,189$3,838,292
22$6,960,834$2,532,529$400,248$4,028,057
23$7,308,876$2,661,304$420,260$4,227,311
24$7,674,319$2,796,518$441,273$4,436,528
25$8,058,035$2,938,493$463,337$4,656,205
26$8,460,937$3,087,567$486,504$4,886,866
27$8,883,984$3,244,094$510,829$5,129,061
28$9,328,183$3,408,448$536,371$5,383,365
29$9,794,592$3,581,019$563,189$5,650,384
30$10,284,322$3,762,219$591,349$5,930,754
Total$166,000,000$60,130,603$9,545,001$96,324,394

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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.