USA Mega

U.S. Virgin Islands Powerball Jackpot Annuity Payout Schedule for Sep 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 $30,000,000 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:Sat, Sep 24, 2011
Jackpot:$30,000,000
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$534,903$157,591$0$377,312
2$556,299$165,079$0$391,220
3$578,551$172,868$0$405,683
4$601,693$180,967$0$420,726
5$625,761$189,719$0$436,042
6$650,791$198,981$0$451,811
7$676,823$208,612$0$468,211
8$703,896$218,629$0$485,267
9$732,052$229,047$0$503,005
10$761,334$239,881$0$521,452
11$791,787$251,149$0$540,638
12$823,459$262,867$0$560,591
13$856,397$275,055$0$581,342
14$890,653$287,729$0$602,923
15$926,279$300,911$0$625,368
16$963,330$314,620$0$648,710
17$1,001,863$328,877$0$672,986
18$1,041,938$343,705$0$698,233
19$1,083,615$359,125$0$724,490
20$1,126,960$375,163$0$751,797
21$1,172,038$391,842$0$780,196
22$1,218,920$409,188$0$809,732
23$1,267,677$427,228$0$840,449
24$1,318,384$445,990$0$872,394
25$1,371,119$465,502$0$905,617
26$1,425,964$485,794$0$940,169
27$1,483,002$506,899$0$976,104
28$1,542,322$528,847$0$1,013,475
29$1,604,015$551,673$0$1,052,342
30$1,668,176$575,413$0$1,092,763
Total$30,000,000$9,848,951$0$20,151,048

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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.