USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $11,000,000 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, Jul 21, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$14,487$118,300
2$173,844$34,765$15,211$123,868
3$182,536$36,851$15,972$129,713
4$191,663$39,042$16,771$135,851
5$201,246$42,085$17,609$141,552
6$211,309$45,305$18,489$147,514
7$221,874$48,686$19,414$153,774
8$232,968$52,236$20,385$160,347
9$244,616$55,990$21,404$167,222
10$256,847$60,271$22,474$174,102
11$269,689$64,766$23,598$181,325
12$283,174$69,486$24,778$188,910
13$297,332$74,441$26,017$196,875
14$312,199$79,644$27,317$205,237
15$327,809$85,108$28,683$214,018
16$344,199$90,845$30,117$223,237
17$361,409$96,868$31,623$232,918
18$379,480$103,193$33,204$243,083
19$398,454$109,834$34,865$253,756
20$418,376$116,807$36,608$264,962
21$439,295$124,128$38,438$276,729
22$461,260$131,816$40,360$289,084
23$484,323$139,888$42,378$302,057
24$508,539$148,363$44,497$315,679
25$533,966$157,263$46,722$329,981
26$560,665$166,607$49,058$344,999
27$588,698$176,419$51,511$360,768
28$618,133$186,897$54,087$377,149
29$649,039$198,332$56,791$393,916
30$681,491$210,340$59,630$411,521
Total$11,000,000$2,979,054$962,498$7,058,447

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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.