USA Mega

Vermont Powerball Jackpot Annuity Payout Schedule for Apr 24, 2023

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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 $28,200,000 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:Mon, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$37,139$268,379
2$445,673$126,360$38,996$280,316
3$467,957$134,160$40,946$292,851
4$491,354$142,349$42,994$306,012
5$515,922$150,948$45,143$319,831
6$541,718$159,976$47,400$334,342
7$568,804$169,456$49,770$349,578
8$597,244$179,410$52,259$365,575
9$627,107$190,217$54,872$382,018
10$658,462$201,819$57,615$399,028
11$691,385$214,000$60,496$416,889
12$725,954$226,791$63,521$435,642
13$762,252$240,221$66,697$455,334
14$800,365$254,323$70,032$476,010
15$840,383$269,129$73,534$497,720
16$882,402$284,677$77,210$520,515
17$926,522$301,001$81,071$544,451
18$972,848$318,142$85,124$569,582
19$1,021,491$336,139$89,380$595,971
20$1,072,565$355,037$93,849$623,679
21$1,126,193$374,879$98,542$652,772
22$1,182,503$395,714$103,469$683,320
23$1,241,628$417,590$108,642$715,396
24$1,303,710$440,560$114,075$749,075
25$1,368,895$464,679$119,778$784,438
26$1,437,340$490,004$125,767$821,569
27$1,509,207$516,594$132,056$860,557
28$1,584,667$544,515$138,658$901,494
29$1,663,901$573,831$145,591$944,478
30$1,747,096$604,613$152,871$989,612
Total$28,200,000$9,196,066$2,467,497$16,536,434

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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.