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Virginia Powerball Jackpot Annuity Payout Schedule for Jan 13, 2021

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The tax information provided here is based on 2021 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 $550,000,000 for a ticket purchased in Virginia, 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 prize money, as well as deductions claimed.

Virginia

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $8,278,289 $3,027,039 $476,002 $4,775,248
2 $8,692,204 $3,180,188 $499,802 $5,012,214
3 $9,126,814 $3,340,993 $524,792 $5,261,029
4 $9,583,155 $3,509,840 $551,031 $5,522,284
5 $10,062,312 $3,687,128 $578,583 $5,796,601
6 $10,565,428 $3,873,281 $607,512 $6,084,635
7 $11,093,700 $4,068,741 $637,888 $6,387,071
8 $11,648,385 $4,273,975 $669,782 $6,704,628
9 $12,230,804 $4,489,470 $703,271 $7,038,063
10 $12,842,344 $4,715,739 $738,435 $7,388,170
11 $13,484,461 $4,953,323 $775,357 $7,755,782
12 $14,158,684 $5,202,785 $814,124 $8,141,774
13 $14,866,618 $5,464,721 $854,831 $8,547,067
14 $15,609,949 $5,739,753 $897,572 $8,972,624
15 $16,390,447 $6,028,537 $942,451 $9,419,458
16 $17,209,969 $6,331,761 $989,573 $9,888,635
17 $18,070,467 $6,650,145 $1,039,052 $10,381,270
18 $18,973,991 $6,984,449 $1,091,004 $10,898,537
19 $19,922,690 $7,335,468 $1,145,555 $11,441,668
20 $20,918,825 $7,704,037 $1,202,832 $12,011,955
21 $21,964,766 $8,091,036 $1,262,974 $12,610,756
22 $23,063,004 $8,497,384 $1,326,123 $13,239,498
23 $24,216,155 $8,924,049 $1,392,429 $13,899,676
24 $25,426,962 $9,372,048 $1,462,050 $14,592,863
25 $26,698,310 $9,842,447 $1,535,153 $15,320,710
26 $28,033,226 $10,336,366 $1,611,911 $16,084,950
27 $29,434,887 $10,854,981 $1,692,506 $16,887,401
28 $30,906,631 $11,399,526 $1,777,131 $17,729,974
29 $32,451,963 $11,971,299 $1,865,988 $18,614,677
30 $34,074,561 $12,571,660 $1,959,287 $19,543,614
Total $550,000,001 $202,422,169 $31,625,001 $315,952,832

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.

Powerball annuity chart shows the annual net payout a Virginia jackpot winner would get after federal and state taxes.

Va lottery payout options

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