USA Mega

U.S. Virgin Islands Powerball Jackpot Annuity Payout Schedule for Mar 29, 2008

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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 $37,800,000 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:Sat, Mar 29, 2008
Jackpot:$37,800,000
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$673,978$207,560$0$466,418
2$700,937$217,534$0$483,402
3$728,974$227,908$0$501,066
4$758,133$238,697$0$519,436
5$788,459$249,917$0$538,541
6$819,997$261,587$0$558,410
7$852,797$273,723$0$579,074
8$886,909$286,344$0$600,565
9$922,385$299,470$0$622,915
10$959,280$313,122$0$646,159
11$997,652$327,319$0$670,333
12$1,037,558$342,084$0$695,474
13$1,079,060$357,440$0$721,620
14$1,122,222$373,410$0$748,812
15$1,167,111$390,019$0$777,092
16$1,213,796$407,292$0$806,504
17$1,262,348$425,256$0$837,091
18$1,312,842$443,939$0$868,902
19$1,365,355$463,369$0$901,986
20$1,419,969$483,576$0$936,393
21$1,476,768$504,592$0$972,176
22$1,535,839$526,448$0$1,009,391
23$1,597,273$549,179$0$1,048,094
24$1,661,163$572,818$0$1,088,345
25$1,727,610$597,403$0$1,130,207
26$1,796,714$622,972$0$1,173,742
27$1,868,583$649,563$0$1,219,020
28$1,943,326$677,218$0$1,266,108
29$2,021,059$705,980$0$1,315,080
30$2,101,902$735,891$0$1,366,010
Total$37,800,000$12,731,630$0$25,068,366

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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.