USA Mega

Virginia Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$159,195$31,156$351,500
2$568,944$168,678$32,714$367,552
3$597,391$178,634$34,350$384,407
4$627,261$189,107$36,068$402,087
5$658,624$200,711$37,871$420,042
6$691,555$212,896$39,764$438,895
7$726,133$225,689$41,753$458,691
8$762,440$239,123$43,840$479,476
9$800,562$253,228$46,032$501,301
10$840,590$268,038$48,334$524,217
11$882,619$283,589$50,751$548,279
12$926,750$299,918$53,288$573,544
13$973,088$317,063$55,953$600,072
14$1,021,742$335,065$58,750$627,927
15$1,072,829$353,967$61,688$657,174
16$1,126,471$373,814$64,772$687,884
17$1,182,794$394,654$68,011$720,129
18$1,241,934$416,536$71,411$753,987
19$1,304,031$439,512$74,982$789,537
20$1,369,232$463,636$78,731$826,865
21$1,437,694$488,967$82,667$866,059
22$1,509,578$515,564$86,801$907,213
23$1,585,057$543,491$91,141$950,425
24$1,664,310$572,815$95,698$995,797
25$1,747,526$603,605$100,483$1,043,438
26$1,834,902$635,934$105,507$1,093,461
27$1,926,647$669,880$110,782$1,145,985
28$2,022,980$705,523$116,321$1,201,136
29$2,124,128$742,948$122,137$1,259,043
30$2,230,335$782,244$128,244$1,319,846
Total$36,000,000$12,034,024$2,070,000$21,895,969

◄ Back to Jackpot Analysis

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.