USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 2013

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The tax information provided here is based on 2022 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 $47,000,000 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 prize money, as well as deductions claimed.

State:

Vermont

Drawing Date:Tue, Jan 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$61,899$420,819
2$742,788$237,787$64,994$440,008
3$779,928$251,528$68,244$460,156
4$818,924$265,957$71,656$481,311
5$859,870$281,107$75,239$503,525
6$902,864$297,015$79,001$526,849
7$948,007$313,718$82,951$551,339
8$995,407$331,256$87,098$577,054
9$1,045,178$349,671$91,453$604,054
10$1,097,437$369,007$96,026$632,404
11$1,152,308$389,309$100,827$662,172
12$1,209,924$410,627$105,868$693,429
13$1,270,420$433,010$111,162$726,248
14$1,333,941$456,513$116,720$760,708
15$1,400,638$481,191$122,556$796,891
16$1,470,670$507,103$128,684$834,884
17$1,544,204$534,310$135,118$874,775
18$1,621,414$562,878$141,874$916,662
19$1,702,484$592,874$148,967$960,643
20$1,787,609$624,370$156,416$1,006,823
21$1,876,989$657,441$164,237$1,055,312
22$1,970,839$692,165$172,448$1,106,225
23$2,069,380$728,626$181,071$1,159,684
24$2,172,849$766,909$190,124$1,215,816
25$2,281,492$807,107$199,631$1,274,754
26$2,395,567$849,315$209,612$1,336,640
27$2,515,345$893,633$220,093$1,401,620
28$2,641,112$940,166$231,097$1,469,848
29$2,773,168$989,027$242,652$1,541,489
30$2,911,826$1,040,331$254,785$1,616,711
Total$47,000,000$16,278,650$4,112,503$26,608,853

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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.