USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Feb 24, 1998

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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 $7,000,000 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:Tue, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,133$9,219$78,008
2$110,628$19,398$9,680$81,550
3$116,159$20,725$10,164$85,270
4$121,967$22,119$10,672$89,176
5$128,066$23,583$11,206$93,277
6$134,469$25,120$11,766$97,583
7$141,193$26,733$12,354$102,105
8$148,252$28,428$12,972$106,853
9$155,665$30,207$13,621$111,838
10$163,448$32,075$14,302$117,072
11$171,620$34,036$15,017$122,568
12$180,201$36,095$15,768$128,338
13$189,212$38,258$16,556$134,398
14$198,672$40,638$17,384$140,650
15$208,606$43,817$18,253$146,536
16$219,036$47,155$19,166$152,716
17$229,988$50,659$20,124$159,205
18$241,487$54,339$21,130$166,018
19$253,562$58,294$22,187$173,081
20$266,240$62,731$23,296$180,213
21$279,552$67,390$24,461$187,701
22$293,529$72,282$25,684$195,563
23$308,206$77,419$26,968$203,818
24$323,616$82,813$28,316$212,487
25$339,797$88,476$29,732$221,588
26$356,787$94,423$31,219$231,145
27$374,626$100,666$32,780$241,180
28$393,357$107,222$34,419$251,716
29$413,025$114,106$36,140$262,779
30$433,676$121,334$37,947$274,396
Total$7,000,000$1,638,674$612,503$4,748,828

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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.