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Mega Millions Annuity Jackpot Analysis for U.S. Virgin Islands

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $378,000,000 would be for a resident of U.S. Virgin Islands, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

U.S. Virgin Islands

Drawing Date:  Fri, Jun 5, 2020
Jackpot:$378,000,000
Federal Tax:  24%
State Tax:0.00% (Unknown)
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,689,442$1,365,466$0$4,323,976
2$5,973,915$1,433,740$0$4,540,175
3$6,272,610$1,505,426$0$4,767,184
4$6,586,241$1,580,698$0$5,005,543
5$6,915,553$1,659,733$0$5,255,820
6$7,261,330$1,742,719$0$5,518,611
7$7,624,397$1,829,855$0$5,794,542
8$8,005,617$1,921,348$0$6,084,269
9$8,405,898$2,017,415$0$6,388,482
10$8,826,193$2,118,286$0$6,707,906
11$9,267,502$2,224,201$0$7,043,302
12$9,730,877$2,335,411$0$7,395,467
13$10,217,421$2,452,181$0$7,765,240
14$10,728,292$2,574,790$0$8,153,502
15$11,264,707$2,703,530$0$8,561,177
16$11,827,942$2,838,706$0$8,989,236
17$12,419,339$2,980,641$0$9,438,698
18$13,040,306$3,129,674$0$9,910,633
19$13,692,322$3,286,157$0$10,406,164
20$14,376,938$3,450,465$0$10,926,473
21$15,095,785$3,622,988$0$11,472,796
22$15,850,574$3,804,138$0$12,046,436
23$16,643,103$3,994,345$0$12,648,758
24$17,475,258$4,194,062$0$13,281,196
25$18,349,020$4,403,765$0$13,945,256
26$19,266,472$4,623,953$0$14,642,519
27$20,229,795$4,855,151$0$15,374,644
28$21,241,285$5,097,908$0$16,143,376
29$22,303,349$5,352,804$0$16,950,545
30$23,418,517$5,620,444$0$17,798,073
Total$378,000,001$90,720,000$0$287,280,001
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