USA Mega

Vermont Powerball Jackpot Annuity Payout Schedule for Oct 11, 2008

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $20,000,000 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, Oct 11, 2008
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$31,203$230,214
2$370,866$100,178$32,451$238,237
3$385,701$105,370$33,749$246,582
4$401,129$110,770$35,099$255,260
5$417,174$116,386$36,503$264,286
6$433,861$122,226$37,963$273,672
7$451,215$128,300$39,481$283,434
8$469,264$134,617$41,061$293,586
9$488,034$141,187$42,703$304,145
10$507,556$148,019$44,411$315,125
11$527,858$155,125$46,188$326,545
12$548,972$162,515$48,035$338,422
13$570,931$170,201$49,956$350,774
14$593,769$178,194$51,955$363,620
15$617,519$186,670$54,033$376,816
16$642,220$195,809$56,194$390,217
17$667,909$205,314$58,442$404,153
18$694,625$215,199$60,780$418,646
19$722,410$225,480$63,211$433,720
20$751,307$236,171$65,739$449,396
21$781,359$247,291$68,369$465,699
22$812,613$258,855$71,104$482,655
23$845,118$270,881$73,948$500,289
24$878,922$283,389$76,906$518,628
25$914,079$296,397$79,982$537,700
26$950,643$309,925$83,181$557,536
27$988,668$323,995$86,508$578,165
28$1,028,215$338,627$89,969$599,619
29$1,069,344$353,845$93,568$621,931
30$1,112,117$369,671$97,310$645,136
Total$20,000,000$6,185,792$1,750,002$12,064,208

◄ Back to Jackpot Analysis

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.