Vermont Lottery

VTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 4, 2024 is estimated to be $203 Million, with a cash option of 92.7 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 Sat May 4, 2024

Draw Date	Jackpot	Cash Option
Sat May 4, 2024	$203,000,000	$92,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$92,700,000
Federal Tax(24%)	$22,248,000
Additional Federal Tax	$12,011,330
State Tax(6%)	$5,562,000
Net Lumpsum Payment	$52,878,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$183,321	$1,781,221
2	$3,208,212	-$1,147,369 -$192,493	$1,868,350
3	$3,368,582	-$1,206,706 -$202,115	$1,959,761
4	$3,537,072	-$1,269,047 -$212,224	$2,055,801
5	$3,713,885	-$1,334,468 -$222,833	$2,156,584
6	$3,899,630	-$1,403,193 -$233,978	$2,262,459
7	$4,094,510	-$1,475,299 -$245,671	$2,373,540
8	$4,299,337	-$1,551,085 -$257,960	$2,490,292
9	$4,514,314	-$1,630,627 -$270,859	$2,612,828
10	$4,740,050	-$1,714,149 -$284,403	$2,741,498
11	$4,976,951	-$1,801,802 -$298,617	$2,876,532
12	$5,225,829	-$1,893,887 -$313,550	$3,018,392
13	$5,487,090	-$1,990,554 -$329,225	$3,167,311
14	$5,761,546	-$2,092,102 -$345,693	$3,323,751
15	$6,049,603	-$2,198,683 -$362,976	$3,487,944
16	$6,352,073	-$2,310,597 -$381,124	$3,660,352
17	$6,669,565	-$2,428,069 -$400,174	$3,841,322
18	$7,003,094	-$2,551,475 -$420,186	$4,031,433
19	$7,353,269	-$2,681,040 -$441,196	$4,231,033
20	$7,720,902	-$2,817,064 -$463,254	$4,440,584
21	$8,107,008	-$2,959,923 -$486,420	$4,660,665
22	$8,512,399	-$3,109,918 -$510,744	$4,891,737
23	$8,937,887	-$3,267,349 -$536,273	$5,134,265
24	$9,384,893	-$3,432,741 -$563,094	$5,389,058
25	$9,854,026	-$3,606,320 -$591,242	$5,656,464
26	$10,346,910	-$3,788,687 -$620,815	$5,937,408
27	$10,864,154	-$3,980,067 -$651,849	$6,232,238
28	$11,407,382	-$4,181,062 -$684,443	$6,541,877
29	$11,977,812	-$4,392,121 -$718,669	$6,867,022
30	$12,576,662	-$4,613,695 -$754,600	$7,208,367