Jackpot Analysis Vermont Powerball

Jackpot Analysis for Vermont Powerball
The jackpot for the Powerball draw on Sat Nov 2, 2024, is projected to be $54 Million, with an option for a cash payout of $25.8 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Vermont residents, the state will deduct 6% from your lottery earnings.

Vermont Powerball Jackpot/Cash Option for Sat Nov 2, 2024
Draw DateSat Nov 2, 2024
Projected Jackpot$54,000,000
Cash Value$25,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$25,800,000
Federal Tax(24%)$6,192,000
Additional Federal Tax$3,314,330
State Tax(6%)$1,548,000
Net Lumpsum Payment$14,745,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $812,754 $261,049
$48,765
$502,940
2 $853,416 $276,094
$51,205
$526,117
3 $896,076 $291,879
$53,765
$550,432
4 $940,896 $308,462
$56,454
$575,980
5 $987,930 $325,864
$59,276
$602,790
6 $1,037,340 $344,146
$62,240
$630,954
7 $1,089,180 $363,327
$65,351
$660,502
8 $1,143,666 $383,487
$68,620
$691,559
9 $1,200,852 $404,646
$72,051
$724,155
10 $1,260,900 $426,863
$75,654
$758,383
11 $1,323,918 $450,180
$79,435
$794,303
12 $1,390,122 $474,676
$83,407
$832,039
13 $1,459,620 $500,390
$87,577
$871,653
14 $1,532,628 $527,403
$91,958
$913,267
15 $1,609,254 $555,754
$96,555
$956,945
16 $1,689,714 $585,525
$101,383
$1,002,806
17 $1,774,170 $616,773
$106,450
$1,050,947
18 $1,862,892 $649,600
$111,774
$1,101,518
19 $1,956,042 $684,066
$117,363
$1,154,613
20 $2,053,836 $720,250
$123,230
$1,210,356
21 $2,156,544 $758,252
$129,393
$1,268,899
22 $2,264,382 $798,152
$135,863
$1,330,367
23 $2,377,566 $840,030
$142,654
$1,394,882
24 $2,496,474 $884,026
$149,788
$1,462,660
25 $2,621,268 $930,200
$157,276
$1,533,792
26 $2,752,380 $978,711
$165,143
$1,608,526
27 $2,889,972 $1,029,620
$173,398
$1,686,954
28 $3,034,476 $1,083,087
$182,069
$1,769,320
29 $3,186,216 $1,139,230
$191,173
$1,855,813
30 $3,345,516 $1,198,171
$200,731
$1,946,614