USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Feb 7, 2023

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The tax information provided here is based on 2022 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 $31,000,000 for a ticket purchased in Vermont, 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 prize money, as well as deductions claimed.

State:

Vermont

Drawing Date:Tue, Feb 7, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$40,827$288,706
2$489,924$145,226$42,868$301,829
3$514,420$153,800$45,012$315,608
4$540,141$162,807$47,262$330,072
5$567,149$172,800$49,625$344,723
6$595,506$183,292$52,107$360,107
7$625,281$194,309$54,712$376,260
8$656,545$205,877$57,448$393,221
9$689,373$218,023$60,320$411,030
10$723,841$230,776$63,336$429,729
11$760,033$244,167$66,503$449,363
12$798,035$258,228$69,828$469,979
13$837,937$272,992$73,319$491,626
14$879,834$288,493$76,985$514,355
15$923,825$304,770$80,835$538,220
16$970,016$321,861$84,876$563,279
17$1,018,517$339,806$89,120$589,591
18$1,069,443$358,649$93,576$617,218
19$1,122,915$378,434$98,255$646,227
20$1,179,061$399,208$103,168$676,686
21$1,238,014$421,020$108,326$708,668
22$1,299,915$443,923$113,743$742,249
23$1,364,911$467,972$119,430$777,509
24$1,433,156$493,223$125,401$814,532
25$1,504,814$519,736$131,671$853,407
26$1,580,055$547,575$138,255$894,225
27$1,659,057$576,806$145,168$937,084
28$1,742,010$607,499$152,426$982,085
29$1,829,111$639,726$160,047$1,029,338
30$1,920,566$673,564$168,050$1,078,952
Total$31,000,000$10,361,623$2,712,499$17,925,878

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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.