USA Mega

U.S. Virgin Islands Mega Millions Jackpot Annuity Payout Schedule for Aug 1, 2023

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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 $1,100,000,000 for a ticket purchased in U.S. Virgin Islands, 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:

U.S. Virgin Islands

Drawing Date:Tue, Aug 1, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: Unknown state tax rate
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$0$10,472,457
2$17,384,408$6,390,419$0$10,993,989
3$18,253,628$6,712,030$0$11,541,598
4$19,166,310$7,049,722$0$12,116,587
5$20,124,624$7,404,299$0$12,720,326
6$21,130,856$7,776,604$0$13,354,251
7$22,187,399$8,167,525$0$14,019,874
8$23,296,769$8,577,992$0$14,718,777
9$24,461,608$9,008,983$0$15,452,625
10$25,684,688$9,461,522$0$16,223,165
11$26,968,922$9,936,689$0$17,032,233
12$28,317,368$10,435,614$0$17,881,754
13$29,733,237$10,959,485$0$18,773,751
14$31,219,899$11,509,550$0$19,710,348
15$32,780,893$12,087,118$0$20,693,775
16$34,419,938$12,693,565$0$21,726,373
17$36,140,935$13,330,334$0$22,810,601
18$37,947,982$13,998,941$0$23,949,041
19$39,845,380$14,700,978$0$25,144,402
20$41,837,650$15,438,118$0$26,399,532
21$43,929,532$16,212,115$0$27,717,417
22$46,126,009$17,024,811$0$29,101,198
23$48,432,309$17,878,142$0$30,554,167
24$50,853,924$18,774,140$0$32,079,784
25$53,396,620$19,714,937$0$33,681,683
26$56,066,452$20,702,775$0$35,363,677
27$58,869,775$21,740,004$0$37,129,770
28$61,813,263$22,829,095$0$38,984,168
29$64,903,926$23,972,640$0$40,931,286
30$68,149,123$25,173,363$0$42,975,760
Total$1,100,000,002$405,745,632$0$694,254,369

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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.