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Vermont Mega Millions Jackpot Annuity Payout Schedule for Jun 3, 2005

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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 $106,000,000 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 3, 2005
Jackpot:$106,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,595,452$548,505$139,602$907,345
2$1,675,225$578,021$146,582$950,622
3$1,758,986$609,013$153,911$996,062
4$1,846,935$641,554$161,607$1,043,775
5$1,939,282$675,722$169,687$1,093,873
6$2,036,246$711,599$178,172$1,146,476
7$2,138,058$749,269$187,080$1,201,709
8$2,244,961$788,823$196,434$1,259,704
9$2,357,209$830,355$206,256$1,320,598
10$2,475,070$873,964$216,569$1,384,538
11$2,598,823$919,752$227,397$1,451,674
12$2,728,765$967,831$238,767$1,522,167
13$2,865,203$1,018,313$250,705$1,596,185
14$3,008,463$1,071,319$263,241$1,673,903
15$3,158,886$1,126,976$276,403$1,755,508
16$3,316,830$1,185,415$290,223$1,841,193
17$3,482,672$1,246,776$304,734$1,931,162
18$3,656,805$1,311,206$319,970$2,025,629
19$3,839,646$1,378,857$335,969$2,124,820
20$4,031,628$1,449,890$352,767$2,228,970
21$4,233,209$1,524,475$370,406$2,338,328
22$4,444,870$1,602,790$388,926$2,453,154
23$4,667,113$1,685,020$408,372$2,573,721
24$4,900,469$1,771,361$428,791$2,700,317
25$5,145,492$1,862,020$450,231$2,833,242
26$5,402,767$1,957,212$472,742$2,972,813
27$5,672,906$2,057,163$496,379$3,119,364
28$5,956,551$2,162,112$521,198$3,273,241
29$6,254,378$2,272,308$547,258$3,434,812
30$6,567,097$2,388,014$574,621$3,604,463
Total$106,000,000$37,965,635$9,275,000$58,759,368

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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.