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Virginia Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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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 $105,000,000 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:Tue, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$541,768$90,873$947,759
2$1,659,421$571,006$95,417$992,998
3$1,742,392$601,705$100,188$1,040,499
4$1,829,511$633,939$105,197$1,090,375
5$1,920,987$667,785$110,457$1,142,745
6$2,017,036$703,324$115,980$1,197,733
7$2,117,888$740,639$121,779$1,255,471
8$2,223,783$779,820$127,867$1,316,095
9$2,334,972$820,960$134,261$1,379,751
10$2,451,720$864,157$140,974$1,446,590
11$2,574,306$909,514$148,023$1,516,770
12$2,703,022$957,138$155,424$1,590,460
13$2,838,173$1,007,144$163,195$1,667,834
14$2,980,081$1,059,650$171,355$1,749,076
15$3,129,085$1,114,782$179,922$1,834,381
16$3,285,540$1,172,670$188,919$1,923,951
17$3,449,816$1,233,452$198,364$2,018,000
18$3,622,307$1,297,274$208,283$2,116,751
19$3,803,423$1,364,287$218,697$2,220,439
20$3,993,594$1,434,650$229,632$2,329,312
21$4,193,273$1,508,531$241,113$2,443,629
22$4,402,937$1,586,107$253,169$2,563,661
23$4,623,084$1,667,561$265,827$2,689,695
24$4,854,238$1,753,088$279,119$2,822,031
25$5,096,950$1,842,892$293,075$2,960,984
26$5,351,798$1,937,185$307,728$3,106,884
27$5,619,388$2,036,194$323,115$3,260,079
28$5,900,357$2,140,152$339,271$3,420,934
29$6,195,375$2,249,309$356,234$3,589,832
30$6,505,144$2,363,923$374,046$3,767,174
Total$105,000,000$37,560,606$6,037,504$61,401,893

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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.