USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Mar 24, 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 $30,000,000 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, Mar 24, 1998
Jackpot:$30,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$451,543$128,415$39,510$283,618
2$474,120$136,317$41,486$296,318
3$497,826$144,614$43,560$309,652
4$522,718$153,326$45,738$323,654
5$548,853$162,473$48,025$338,355
6$576,296$172,078$50,426$353,792
7$605,111$182,164$52,947$370,000
8$635,366$193,273$55,595$386,499
9$667,135$205,028$58,374$403,733
10$700,491$217,370$61,293$421,829
11$735,516$230,329$64,358$440,830
12$772,292$243,936$67,576$460,781
13$810,906$258,223$70,954$481,729
14$851,452$273,225$74,502$503,725
15$894,024$288,977$78,227$526,820
16$938,726$305,516$82,138$551,071
17$985,662$322,883$86,245$576,534
18$1,034,945$341,117$90,558$603,270
19$1,086,692$360,264$95,086$631,343
20$1,141,027$380,368$99,840$660,819
21$1,198,078$401,477$104,832$691,770
22$1,257,982$423,641$110,073$724,268
23$1,320,881$446,914$115,577$758,390
24$1,386,925$471,350$121,356$794,219
25$1,456,271$497,008$127,424$831,840
26$1,529,085$523,949$133,795$871,341
27$1,605,539$552,237$140,485$912,817
28$1,685,816$581,940$147,509$956,368
29$1,770,107$613,127$154,884$1,002,095
30$1,858,612$645,874$162,629$1,050,109
Total$30,000,000$9,857,413$2,625,002$17,517,589

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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.