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Virginia Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 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 $101,000,000 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, Sep 5, 2023
Jackpot:$101,000,000
Federal Tax:37% marginal rate
State Tax: 5.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,520,195$519,492$87,411$913,291
2$1,596,205$547,616$91,782$956,807
3$1,676,015$577,146$96,371$1,002,498
4$1,759,816$608,152$101,189$1,050,474
5$1,847,806$640,709$106,249$1,100,849
6$1,940,197$674,893$111,561$1,153,742
7$2,037,207$710,787$117,139$1,209,281
8$2,139,067$748,475$122,996$1,267,596
9$2,246,020$788,048$129,146$1,328,826
10$2,358,321$829,599$135,603$1,393,119
11$2,476,237$873,228$142,384$1,460,626
12$2,600,049$919,038$149,503$1,531,508
13$2,730,052$967,139$156,978$1,605,934
14$2,866,554$1,017,645$164,827$1,684,082
15$3,009,882$1,070,677$173,068$1,766,137
16$3,160,376$1,126,359$181,722$1,852,295
17$3,318,395$1,184,826$190,808$1,942,761
18$3,484,315$1,246,217$200,348$2,037,750
19$3,658,530$1,310,676$210,365$2,137,488
20$3,841,457$1,378,359$220,884$2,242,214
21$4,033,530$1,449,426$231,928$2,352,176
22$4,235,206$1,524,047$243,524$2,467,635
23$4,446,967$1,602,398$255,701$2,588,868
24$4,669,315$1,684,667$268,486$2,716,162
25$4,902,781$1,771,049$281,910$2,849,822
26$5,147,920$1,861,751$296,005$2,990,164
27$5,405,316$1,956,987$310,806$3,137,523
28$5,675,581$2,056,985$326,346$3,292,250
29$5,959,360$2,161,984$342,663$3,454,714
30$6,257,329$2,272,232$359,796$3,625,300
Total$101,000,000$36,080,607$5,807,499$59,111,892

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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.