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Vermont Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 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 $350,000,000 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 money, as well as deductions claimed.

State:

Vermont

Drawing Date:Fri, Oct 6, 2023
Jackpot:$350,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,268,002$1,912,116$460,950$2,894,936
2$5,531,402$2,009,574$483,998$3,037,831
3$5,807,972$2,111,905$508,198$3,187,870
4$6,098,371$2,219,352$533,607$3,345,411
5$6,403,290$2,332,172$560,288$3,510,830
6$6,723,454$2,450,633$588,302$3,684,519
7$7,059,627$2,575,017$617,717$3,866,893
8$7,412,608$2,705,620$648,603$4,058,385
9$7,783,239$2,842,753$681,033$4,259,452
10$8,172,401$2,986,743$715,085$4,470,572
11$8,581,021$3,137,933$750,839$4,692,249
12$9,010,072$3,296,682$788,381$4,925,009
13$9,460,575$3,463,368$827,800$5,169,407
14$9,933,604$3,638,389$869,190$5,426,025
15$10,430,284$3,822,160$912,650$5,695,474
16$10,951,799$4,015,120$958,282$5,978,396
17$11,499,388$4,217,729$1,006,196$6,275,463
18$12,074,358$4,430,467$1,056,506$6,587,384
19$12,678,076$4,653,843$1,109,332$6,914,901
20$13,311,979$4,888,387$1,164,798$7,258,794
21$13,977,578$5,134,659$1,223,038$7,619,881
22$14,676,457$5,393,244$1,284,190$7,999,023
23$15,410,280$5,664,759$1,348,400$8,397,122
24$16,180,794$5,949,849$1,415,819$8,815,126
25$16,989,834$6,249,193$1,486,610$9,254,030
26$17,839,326$6,563,506$1,560,941$9,714,879
27$18,731,292$6,893,533$1,638,988$10,198,771
28$19,667,856$7,240,062$1,720,937$10,706,857
29$20,651,249$7,603,917$1,806,984$11,240,348
30$21,683,812$7,985,965$1,897,334$11,800,513
Total$350,000,001$128,388,650$30,624,996$190,986,351

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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.