USA Mega

Virginia Mega Millions Jackpot Annuity Payout Schedule for Jun 17, 2005

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The tax information provided here is based on 2025 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $25,000,000 for a ticket purchased in Virginia, 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Virginia

Drawing Date:Fri, Jun 17, 2005
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$101,247$21,636$253,402
2$395,100$107,832$22,718$264,550
3$414,855$114,747$23,854$276,254
4$435,598$122,007$25,047$288,545
5$457,378$129,629$26,299$301,449
6$480,247$137,634$27,614$314,999
7$504,259$146,038$28,995$329,226
8$529,472$154,862$30,445$344,165
9$555,946$164,128$31,967$359,851
10$583,743$173,857$33,565$376,320
11$612,930$184,073$35,243$393,614
12$643,577$195,144$37,006$411,427
13$675,755$207,050$38,856$429,850
14$709,543$219,551$40,799$449,193
15$745,020$232,678$42,839$469,504
16$782,271$246,461$44,981$490,830
17$821,385$260,933$47,230$513,223
18$862,454$276,128$49,591$536,735
19$905,577$292,084$52,071$561,422
20$950,856$308,837$54,674$587,345
21$998,398$326,428$57,408$614,563
22$1,048,318$344,898$60,278$643,142
23$1,100,734$364,292$63,292$673,150
24$1,155,771$384,656$66,457$704,659
25$1,213,560$406,037$69,780$737,743
26$1,274,238$428,488$73,269$772,481
27$1,337,949$452,062$76,932$808,956
28$1,404,847$476,814$80,779$847,255
29$1,475,089$502,803$84,818$887,468
30$1,548,844$530,092$89,059$929,693
Total$25,000,000$7,991,490$1,437,502$15,571,014

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.