USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Oct 16, 1998

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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 $5,000,000 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 16, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$6,585$57,063
2$79,020$12,437$6,914$59,668
3$82,971$13,307$7,260$62,404
4$87,120$14,219$7,623$65,277
5$91,476$15,178$8,004$68,294
6$96,049$16,184$8,404$71,461
7$100,852$17,247$8,825$74,780
8$105,894$18,457$9,266$78,171
9$111,189$19,728$9,729$81,732
10$116,749$21,062$10,216$85,471
11$122,586$22,463$10,726$89,397
12$128,715$23,934$11,263$93,519
13$135,151$25,479$11,826$97,847
14$141,909$27,101$12,417$102,391
15$149,004$28,803$13,038$107,163
16$156,454$30,592$13,690$112,173
17$164,277$32,469$14,374$117,434
18$172,491$34,440$15,093$122,958
19$181,115$36,510$15,848$128,758
20$190,171$38,684$16,640$134,848
21$199,680$41,584$17,472$140,624
22$209,664$44,779$18,346$146,539
23$220,147$48,133$19,263$152,751
24$231,154$51,656$20,226$159,272
25$242,712$55,354$21,237$166,120
26$254,848$59,571$22,299$172,977
27$267,590$64,031$23,414$180,145
28$280,969$68,714$24,585$187,671
29$295,018$73,631$25,814$195,573
30$309,769$78,794$27,105$203,870
Total$5,000,000$1,046,151$437,502$3,516,351

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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.