USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Jun 26, 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 $13,000,000 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, Jun 26, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$17,121$138,247
2$205,452$43,431$17,977$144,044
3$215,725$46,718$18,876$150,130
4$226,511$50,170$19,820$156,521
5$237,836$53,794$20,811$163,232
6$249,728$57,780$21,851$170,097
7$262,215$62,150$22,944$177,121
8$275,325$66,739$24,091$184,496
9$289,092$71,557$25,296$192,239
10$303,546$76,616$26,560$200,370
11$318,724$81,928$27,888$208,907
12$334,660$87,506$29,283$217,871
13$351,393$93,362$30,747$227,284
14$368,962$99,512$32,284$237,167
15$387,411$105,968$33,898$247,544
16$406,781$112,748$35,593$258,440
17$427,120$119,867$37,373$269,880
18$448,476$127,341$39,242$281,893
19$470,900$135,190$41,204$294,506
20$494,445$143,430$43,264$307,751
21$519,167$152,083$45,427$321,657
22$545,126$161,169$47,698$336,258
23$572,382$170,708$50,083$351,590
24$601,001$180,725$52,588$367,688
25$631,051$191,677$55,217$384,157
26$662,604$203,351$57,978$401,275
27$695,734$215,609$60,877$419,248
28$730,520$228,480$63,921$438,120
29$767,046$241,995$67,117$457,935
30$805,399$256,185$70,472$478,741
Total$13,000,000$3,678,089$1,137,501$8,184,409

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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.