USA Mega

Vermont Powerball Jackpot Annuity Payout Schedule for Jun 21, 1997

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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 $5,000,000 for a ticket purchased in Vermont, 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:

Vermont

Drawing Date:Sat, Jun 21, 1997
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$89,150$14,666$7,801$66,684
2$92,717$15,451$8,113$69,153
3$96,425$16,267$8,437$71,721
4$100,282$17,115$8,775$74,392
5$104,293$18,073$9,126$77,095
6$108,465$19,074$9,491$79,900
7$112,804$20,115$9,870$82,818
8$117,316$21,198$10,265$85,852
9$122,009$22,325$10,676$89,008
10$126,889$23,496$11,103$92,290
11$131,965$24,714$11,547$95,704
12$137,243$25,981$12,009$99,253
13$142,733$27,298$12,489$102,945
14$148,442$28,669$12,989$106,785
15$154,380$30,094$13,508$110,778
16$160,555$31,576$14,049$114,931
17$166,977$33,117$14,611$119,250
18$173,656$34,720$15,195$123,741
19$180,603$36,387$15,803$128,413
20$187,827$38,121$16,435$133,271
21$195,340$40,195$17,092$138,052
22$203,153$42,696$17,776$142,682
23$211,279$45,296$18,487$147,497
24$219,731$48,000$19,226$152,504
25$228,520$50,813$19,995$157,712
26$237,661$53,738$20,795$163,127
27$247,167$56,883$21,627$168,657
28$257,054$60,344$22,492$174,218
29$267,336$63,942$23,392$180,002
30$278,029$67,685$24,328$186,017
Total$5,000,000$1,028,049$437,502$3,534,452

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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.