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Virginia Mega Millions Jackpot Annuity Payout Schedule for Nov 25, 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 $284,000,000 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:Fri, Nov 25, 2022
Jackpot:$284,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,274,608$1,544,560$245,790$2,484,258
2$4,488,338$1,623,640$258,079$2,606,618
3$4,712,755$1,706,674$270,983$2,735,097
4$4,948,393$1,793,860$284,533$2,870,000
5$5,195,812$1,885,405$298,759$3,011,647
6$5,455,603$1,981,528$313,697$3,160,378
7$5,728,383$2,082,457$329,382$3,316,544
8$6,014,802$2,188,432$345,851$3,480,519
9$6,315,542$2,299,706$363,144$3,652,693
10$6,631,319$2,416,543$381,301$3,833,475
11$6,962,885$2,539,223$400,366$4,023,297
12$7,311,030$2,668,036$420,384$4,222,609
13$7,676,581$2,803,290$441,403$4,431,888
14$8,060,410$2,945,307$463,474$4,651,630
15$8,463,431$3,094,424$486,647$4,882,359
16$8,886,602$3,250,998$510,980$5,124,625
17$9,330,932$3,415,400$536,529$5,379,004
18$9,797,479$3,588,022$563,355$5,646,102
19$10,287,353$3,769,276$591,523$5,926,554
20$10,801,720$3,959,592$621,099$6,221,030
21$11,341,806$4,159,423$652,154$6,530,229
22$11,908,897$4,369,247$684,762$6,854,888
23$12,504,342$4,589,561$719,000$7,195,781
24$13,129,559$4,820,892$754,950$7,553,717
25$13,786,036$5,063,789$792,697$7,929,551
26$14,475,339$5,318,830$832,332$8,324,176
27$15,199,105$5,586,624$873,949$8,738,533
28$15,959,061$5,867,807$917,646$9,173,607
29$16,757,014$6,163,050$963,528$9,630,435
30$17,594,864$6,473,055$1,011,705$10,110,105
Total$284,000,001$103,968,651$16,330,002$163,701,349

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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.