USA Mega

Vermont Powerball Jackpot Annuity Payout Schedule for Aug 28, 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 $55,300,000 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, Aug 28, 2002
Jackpot:$55,300,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$986,004$323,009$86,275$576,720
2$1,025,445$337,602$89,726$598,116
3$1,066,462$352,779$93,315$620,368
4$1,109,121$368,562$97,048$643,510
5$1,153,486$384,977$100,930$667,578
6$1,199,625$402,049$104,967$692,609
7$1,247,610$419,804$109,166$718,641
8$1,297,515$438,268$113,533$745,714
9$1,349,415$457,471$118,074$773,870
10$1,403,392$477,443$122,797$803,152
11$1,459,527$498,213$127,709$833,606
12$1,517,909$519,814$132,817$865,278
13$1,578,625$542,279$138,130$898,216
14$1,641,770$565,643$143,655$932,472
15$1,707,441$589,941$149,401$968,099
16$1,775,738$615,211$155,377$1,005,150
17$1,846,768$641,492$161,592$1,043,684
18$1,920,639$668,824$168,056$1,083,759
19$1,997,464$697,249$174,778$1,125,437
20$2,077,363$726,812$181,769$1,168,782
21$2,160,457$757,557$189,040$1,213,860
22$2,246,876$789,532$196,602$1,260,742
23$2,336,751$822,785$204,466$1,309,499
24$2,430,221$857,369$212,644$1,360,207
25$2,527,429$893,337$221,150$1,412,943
26$2,628,527$930,743$229,996$1,467,788
27$2,733,668$969,645$239,196$1,524,827
28$2,843,014$1,010,103$248,764$1,584,148
29$2,956,735$1,052,180$258,714$1,645,841
30$3,075,004$1,095,939$269,063$1,710,002
Total$55,300,000$19,206,632$4,838,750$31,254,618

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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.