Vermont Lottery

VTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jan 22, 2025 is estimated to be $31 Million, with a cash option of 13.8 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Vermont, your state will take 6% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Vermont Powerball Jackpot/Cash Option for Wed Jan 22, 2025

Draw Date	Jackpot	Cash Option
Wed Jan 22, 2025	$31,000,000	$13,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,800,000
Federal Tax(24%)	$3,312,000
Additional Federal Tax	$1,754,330
State Tax(6%)	$828,000
Net Lumpsum Payment	$7,905,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$466,581	-$132,965 -$27,995	$305,621
2	$489,924	-$141,602 -$29,395	$318,927
3	$514,414	-$150,664 -$30,865	$332,885
4	$540,144	-$160,184 -$32,409	$347,551
5	$567,145	-$170,174 -$34,029	$362,942
6	$595,510	-$180,669 -$35,731	$379,110
7	$625,270	-$191,680 -$37,516	$396,074
8	$656,549	-$203,254 -$39,393	$413,902
9	$689,378	-$215,400 -$41,363	$432,615
10	$723,850	-$228,155 -$43,431	$452,264
11	$760,027	-$241,540 -$45,602	$472,885
12	$798,033	-$255,603 -$47,882	$494,548
13	$837,930	-$270,364 -$50,276	$517,290
14	$879,842	-$285,872 -$52,791	$541,179
15	$923,831	-$302,148 -$55,430	$566,253
16	$970,021	-$319,238 -$58,201	$592,582
17	$1,018,505	-$337,177 -$61,110	$620,218
18	$1,069,438	-$356,022 -$64,166	$649,250
19	$1,122,913	-$375,808 -$67,375	$679,730
20	$1,179,054	-$396,580 -$70,743	$711,731
21	$1,238,016	-$418,396 -$74,281	$745,339
22	$1,299,923	-$441,302 -$77,995	$780,626
23	$1,364,899	-$465,343 -$81,894	$817,662
24	$1,433,161	-$490,600 -$85,990	$856,571
25	$1,504,802	-$517,107 -$90,288	$897,407
26	$1,580,070	-$544,956 -$94,804	$940,310
27	$1,659,058	-$574,182 -$99,543	$985,333
28	$1,742,014	-$604,876 -$104,521	$1,032,617
29	$1,829,124	-$637,106 -$109,747	$1,082,271
30	$1,920,574	-$670,943 -$115,234	$1,134,397