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U.S. Virgin Islands Powerball Jackpot Annuity Payout Schedule for Aug 24, 2011

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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 $47,900,000 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, Aug 24, 2011
Jackpot:$47,900,000
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$854,062$274,191$0$579,871
2$888,224$286,831$0$601,394
3$923,753$299,976$0$623,777
4$960,703$313,648$0$647,055
5$999,131$327,866$0$671,265
6$1,039,097$342,654$0$696,443
7$1,080,661$358,032$0$722,628
8$1,123,887$374,026$0$749,861
9$1,168,842$390,659$0$778,183
10$1,215,596$407,958$0$807,638
11$1,264,220$425,949$0$838,271
12$1,314,789$444,660$0$870,129
13$1,367,380$464,118$0$903,262
14$1,422,076$484,356$0$937,720
15$1,478,959$505,402$0$973,556
16$1,538,117$527,291$0$1,010,826
17$1,599,642$550,055$0$1,049,586
18$1,663,627$573,730$0$1,089,897
19$1,730,172$598,352$0$1,131,821
20$1,799,379$623,958$0$1,175,421
21$1,871,354$650,589$0$1,220,766
22$1,946,209$678,285$0$1,267,924
23$2,024,057$707,089$0$1,316,968
24$2,105,019$737,045$0$1,367,974
25$2,189,220$768,199$0$1,421,021
26$2,276,789$800,600$0$1,476,189
27$2,367,860$834,296$0$1,533,564
28$2,462,575$869,340$0$1,593,234
29$2,561,078$905,787$0$1,655,291
30$2,663,521$943,690$0$1,719,830
Total$47,900,000$16,468,632$0$31,431,365

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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.