USA Mega

Vermont Powerball Jackpot Annuity Payout Schedule for Oct 2, 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 $22,100,000 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:Wed, Oct 2, 2002
Jackpot:$22,100,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$394,045$108,291$34,479$251,276
2$409,807$113,807$35,858$260,142
3$426,199$119,544$37,292$269,362
4$443,247$125,511$38,784$278,952
5$460,977$131,717$40,335$288,925
6$479,416$138,170$41,949$299,297
7$498,593$144,882$43,627$310,084
8$518,537$151,863$45,372$321,302
9$539,278$159,122$47,187$332,969
10$560,849$166,672$49,074$345,103
11$583,283$174,524$51,037$357,722
12$606,614$182,690$53,079$370,846
13$630,879$191,613$55,202$384,064
14$656,114$200,950$57,410$397,754
15$682,359$210,660$59,706$411,992
16$709,653$220,759$62,095$426,799
17$738,039$231,262$64,578$442,199
18$767,561$242,185$67,162$458,214
19$798,263$253,545$69,848$474,870
20$830,194$265,359$72,642$492,192
21$863,402$277,646$75,548$510,208
22$897,938$290,425$78,570$528,943
23$933,855$303,714$81,712$548,429
24$971,209$317,535$84,981$568,693
25$1,010,058$331,909$88,380$589,769
26$1,050,460$346,858$91,915$611,687
27$1,092,478$362,405$95,592$634,482
28$1,136,178$378,573$99,416$658,189
29$1,181,625$395,389$103,392$682,844
30$1,228,890$412,877$107,528$708,485
Total$22,100,000$6,950,457$1,933,750$13,215,793

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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.