USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for May 9, 1997

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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 $24,000,000 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, May 9, 1997
Jackpot:$24,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,234$95,979$31,608$233,647
2$379,296$102,301$33,188$243,807
3$398,261$108,939$34,848$254,475
4$418,174$115,908$36,590$265,676
5$439,083$123,226$38,420$277,437
6$461,037$130,910$40,341$289,786
7$484,089$138,978$42,358$302,753
8$508,293$147,450$44,476$316,368
9$533,708$156,345$46,699$330,663
10$560,393$165,685$49,034$345,674
11$588,413$175,492$51,486$361,435
12$617,833$185,789$54,060$377,984
13$648,725$197,049$56,763$394,913
14$681,161$209,050$59,602$412,510
15$715,219$221,651$62,582$430,986
16$750,980$234,883$65,711$450,387
17$788,529$248,776$68,996$470,757
18$827,956$263,364$72,446$492,146
19$869,354$278,681$76,068$514,604
20$912,821$294,764$79,872$538,185
21$958,463$311,651$83,865$562,946
22$1,006,386$329,383$88,059$588,944
23$1,056,705$348,001$92,462$616,242
24$1,109,540$367,550$97,085$644,905
25$1,165,017$388,077$101,939$675,002
26$1,223,268$409,629$107,036$706,603
27$1,284,431$432,260$112,388$739,784
28$1,348,653$456,022$118,007$774,624
29$1,416,086$480,972$123,907$811,206
30$1,486,890$507,170$130,103$849,618
Total$24,000,000$7,625,935$2,099,999$14,274,067

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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.