Vermont Lottery

VTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 11, 2025 is estimated to be $263 Million, with a cash option of 117.7 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 Jan 11, 2025

Draw Date	Jackpot	Cash Option
Sat Jan 11, 2025	$263,000,000	$117,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$117,700,000
Federal Tax(24%)	$28,248,000
Additional Federal Tax	$15,261,330
State Tax(6%)	$7,062,000
Net Lumpsum Payment	$67,128,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$237,505	$2,295,965
2	$4,156,452	-$1,498,218 -$249,387	$2,408,847
3	$4,364,222	-$1,575,093 -$261,853	$2,527,276
4	$4,582,512	-$1,655,860 -$274,951	$2,651,701
5	$4,811,585	-$1,740,617 -$288,695	$2,782,273
6	$5,052,230	-$1,829,655 -$303,134	$2,919,441
7	$5,304,710	-$1,923,073 -$318,283	$3,063,354
8	$5,570,077	-$2,021,259 -$334,205	$3,214,613
9	$5,848,594	-$2,124,310 -$350,916	$3,373,368
10	$6,141,050	-$2,232,519 -$368,463	$3,540,068
11	$6,447,971	-$2,346,080 -$386,878	$3,715,013
12	$6,770,409	-$2,465,382 -$406,225	$3,898,802
13	$7,108,890	-$2,590,620 -$426,533	$4,091,737
14	$7,464,466	-$2,722,183 -$447,868	$4,294,415
15	$7,837,663	-$2,860,266 -$470,260	$4,507,137
16	$8,229,533	-$3,005,258 -$493,772	$4,730,503
17	$8,640,865	-$3,157,450 -$518,452	$4,964,963
18	$9,072,974	-$3,317,331 -$544,378	$5,211,265
19	$9,526,649	-$3,485,191 -$571,599	$5,469,859
20	$10,002,942	-$3,661,419 -$600,177	$5,741,346
21	$10,503,168	-$3,846,503 -$630,190	$6,026,475
22	$11,028,379	-$4,040,831 -$661,703	$6,325,845
23	$11,579,627	-$4,244,792 -$694,778	$6,640,057
24	$12,158,753	-$4,459,069 -$729,525	$6,970,159
25	$12,766,546	-$4,683,952 -$765,993	$7,316,601
26	$13,405,110	-$4,920,221 -$804,307	$7,680,582
27	$14,075,234	-$5,168,167 -$844,514	$8,062,553
28	$14,779,022	-$5,428,569 -$886,741	$8,463,712
29	$15,518,052	-$5,702,010 -$931,083	$8,884,959
30	$16,293,902	-$5,989,074 -$977,634	$9,327,194