USA Mega

U.S. Virgin Islands Powerball Jackpot Annuity Payout Schedule for May 22, 2002

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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 $12,000,000 for a ticket purchased in U.S. Virgin Islands, 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:

U.S. Virgin Islands

Drawing Date:Wed, May 22, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: Unknown state tax rate
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$0$167,807
2$222,520$48,893$0$173,627
3$231,420$51,741$0$179,679
4$240,677$54,703$0$185,974
5$250,304$57,981$0$192,323
6$260,317$61,486$0$198,831
7$270,729$65,130$0$205,599
8$281,558$68,920$0$212,638
9$292,821$72,862$0$219,959
10$304,533$76,961$0$227,572
11$316,715$81,225$0$235,490
12$329,383$85,659$0$243,724
13$342,559$90,270$0$252,288
14$356,261$95,066$0$261,195
15$370,512$100,054$0$270,458
16$385,332$105,241$0$280,091
17$400,745$110,636$0$290,110
18$416,775$116,246$0$300,529
19$433,446$122,081$0$311,365
20$450,784$128,149$0$322,635
21$468,815$134,460$0$334,355
22$487,568$141,024$0$346,544
23$507,071$147,849$0$359,221
24$527,353$154,948$0$372,405
25$548,448$162,331$0$386,116
26$570,386$170,010$0$400,376
27$593,201$177,995$0$415,206
28$616,929$186,451$0$430,478
29$641,606$195,582$0$446,024
30$667,270$205,078$0$462,193
Total$12,000,000$3,315,186$0$8,684,812

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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.