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Virginia Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 2023

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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 $360,000,000 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, Oct 6, 2023
Jackpot:$360,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,418,517$1,961,871$311,565$3,145,081
2$5,689,443$2,062,114$327,143$3,300,186
3$5,973,915$2,167,369$343,500$3,463,046
4$6,272,610$2,277,886$360,675$3,634,049
5$6,586,241$2,393,929$378,709$3,813,603
6$6,915,553$2,515,775$397,644$4,002,134
7$7,261,331$2,643,713$417,527$4,200,092
8$7,624,397$2,778,047$438,403$4,407,947
9$8,005,617$2,919,099$460,323$4,626,195
10$8,405,898$3,067,202$483,339$4,855,356
11$8,826,193$3,222,712$507,506$5,095,975
12$9,267,502$3,385,996$532,881$5,348,625
13$9,730,877$3,557,445$559,525$5,613,907
14$10,217,421$3,737,466$587,502$5,892,453
15$10,728,292$3,926,488$616,877$6,184,927
16$11,264,707$4,124,962$647,721$6,492,025
17$11,827,942$4,333,359$680,107$6,814,477
18$12,419,339$4,552,176$714,112$7,153,052
19$13,040,306$4,781,934$749,818$7,508,555
20$13,692,322$5,023,179$787,308$7,881,834
21$14,376,938$5,276,487$826,674$8,273,777
22$15,095,785$5,542,461$868,008$8,685,316
23$15,850,574$5,821,733$911,408$9,117,433
24$16,643,102$6,114,968$956,978$9,571,156
25$17,475,258$6,422,866$1,004,827$10,047,565
26$18,349,021$6,746,158$1,055,069$10,547,794
27$19,266,472$7,085,615$1,107,822$11,073,035
28$20,229,795$7,442,044$1,163,213$11,624,537
29$21,241,285$7,816,296$1,221,374$12,203,615
30$22,303,349$8,209,259$1,282,443$12,811,647
Total$360,000,001$131,910,609$20,700,001$207,389,394

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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.