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Virginia Mega Millions Jackpot Annuity Payout Schedule for Dec 13, 2022

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The tax information provided here is based on 2024 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 $400,000,000 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, Dec 13, 2022
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$346,183$3,488,591
2$6,321,603$2,297,181$363,492$3,660,930
3$6,637,683$2,414,130$381,667$3,841,886
4$6,969,567$2,536,928$400,750$4,031,889
5$7,318,045$2,665,864$420,788$4,231,393
6$7,683,948$2,801,248$441,827$4,440,872
7$8,068,145$2,943,401$463,918$4,660,825
8$8,471,552$3,092,662$487,114$4,891,776
9$8,895,130$3,249,386$511,470$5,134,274
10$9,339,886$3,413,946$537,043$5,388,897
11$9,806,881$3,586,734$563,896$5,656,252
12$10,297,225$3,768,161$592,090$5,936,973
13$10,812,086$3,958,660$621,695$6,231,731
14$11,352,690$4,158,683$652,780$6,541,228
15$11,920,325$4,368,708$685,419$6,866,198
16$12,516,341$4,589,234$719,690$7,207,418
17$13,142,158$4,820,786$755,674$7,565,698
18$13,799,266$5,063,916$793,458$7,941,892
19$14,489,229$5,319,203$833,131$8,336,896
20$15,213,691$5,587,253$874,787$8,751,650
21$15,974,375$5,868,707$918,527$9,187,142
22$16,773,094$6,164,233$964,453$9,644,409
23$17,611,749$6,474,535$1,012,676$10,124,538
24$18,492,336$6,800,352$1,063,309$10,628,675
25$19,416,953$7,142,460$1,116,475$11,158,018
26$20,387,801$7,501,674$1,172,299$11,713,828
27$21,407,191$7,878,848$1,230,913$12,297,429
28$22,477,550$8,274,881$1,292,459$12,910,210
29$23,601,428$8,690,716$1,357,082$13,553,630
30$24,781,499$9,127,342$1,424,936$14,229,221
Total$400,000,001$146,745,632$23,000,001$230,254,369

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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.