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Virginia Mega Millions Jackpot Annuity Payout Schedule for Nov 22, 2022

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The tax information provided here is based on 2022 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 $259,000,000 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 prize money, as well as deductions claimed.

State:

Virginia

Drawing Date:Tue, Nov 22, 2022
Jackpot:$259,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,898,322$1,405,334$224,153$2,268,834
2$4,093,238$1,477,453$235,361$2,380,424
3$4,297,900$1,553,178$247,129$2,497,593
4$4,512,795$1,632,689$259,486$2,620,620
5$4,738,434$1,716,176$272,460$2,749,799
6$4,975,356$1,803,837$286,083$2,885,436
7$5,224,124$1,895,881$300,387$3,027,856
8$5,485,330$1,992,527$315,406$3,177,397
9$5,759,597$2,094,006$331,177$3,334,414
10$6,047,576$2,200,558$347,736$3,499,283
11$6,349,955$2,312,438$365,122$3,672,394
12$6,667,453$2,429,913$383,379$3,854,162
13$7,000,826$2,553,261$402,547$4,045,018
14$7,350,867$2,682,776$422,675$4,245,416
15$7,718,410$2,818,767$443,809$4,455,835
16$8,104,331$2,961,557$465,999$4,676,774
17$8,509,547$3,111,488$489,299$4,908,761
18$8,935,025$3,268,914$513,764$5,152,347
19$9,381,776$3,434,212$539,452$5,408,112
20$9,850,865$3,607,775$566,425$5,676,665
21$10,343,408$3,790,016$594,746$5,958,646
22$10,860,578$3,981,369$624,483$6,254,726
23$11,403,607$4,182,290$655,707$6,565,610
24$11,973,788$4,393,256$688,493$6,892,038
25$12,572,477$4,614,771$722,917$7,234,788
26$13,201,101$4,847,362$759,063$7,594,675
27$13,861,156$5,091,583$797,016$7,972,557
28$14,554,214$5,348,014$836,867$8,369,332
29$15,281,924$5,617,267$878,711$8,785,947
30$16,046,021$5,899,983$922,646$9,223,392
Total$259,000,001$94,718,651$14,892,498$149,388,851

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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.