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Mega Millions Annuity Jackpot Analysis for Vermont

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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 $192,000,000 would be for a resident of Vermont, 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:

Vermont

Drawing Date:  Tue, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$173,393$2,022,913
2$3,034,369$728,249$182,062$2,124,059
3$3,186,088$764,661$191,165$2,230,261
4$3,345,392$802,894$200,724$2,341,775
5$3,512,662$843,039$210,760$2,458,863
6$3,688,295$885,191$221,298$2,581,806
7$3,872,710$929,450$232,363$2,710,897
8$4,066,345$975,923$243,981$2,846,442
9$4,269,662$1,024,719$256,180$2,988,764
10$4,483,145$1,075,955$268,989$3,138,202
11$4,707,303$1,129,753$282,438$3,295,112
12$4,942,668$1,186,240$296,560$3,459,868
13$5,189,801$1,245,552$311,388$3,632,861
14$5,449,291$1,307,830$326,957$3,814,504
15$5,721,756$1,373,221$343,305$4,005,229
16$6,007,844$1,441,883$360,471$4,205,491
17$6,308,236$1,513,977$378,494$4,415,765
18$6,623,648$1,589,675$397,419$4,636,553
19$6,954,830$1,669,159$417,290$4,868,381
20$7,302,572$1,752,617$438,154$5,111,800
21$7,667,700$1,840,248$460,062$5,367,390
22$8,051,085$1,932,260$483,065$5,635,760
23$8,453,639$2,028,873$507,218$5,917,548
24$8,876,321$2,130,317$532,579$6,213,425
25$9,320,137$2,236,833$559,208$6,524,096
26$9,786,144$2,348,675$587,169$6,850,301
27$10,275,452$2,466,108$616,527$7,192,816
28$10,789,224$2,589,414$647,353$7,552,457
29$11,328,685$2,718,884$679,721$7,930,080
30$11,895,120$2,854,829$713,707$8,326,584
Total$192,000,000$46,080,000$11,520,000$134,400,000
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