USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$26,340$194,784
2$316,080$85,172$27,657$203,251
3$331,884$90,704$29,040$212,141
4$348,478$96,512$30,492$221,475
5$365,902$102,610$32,016$231,276
6$384,197$109,013$33,617$241,567
7$403,407$115,737$35,298$252,372
8$423,578$122,796$37,063$263,718
9$444,757$130,209$38,916$275,631
10$466,994$137,992$40,862$288,140
11$490,344$146,165$42,905$301,274
12$514,861$154,746$45,050$315,065
13$540,604$164,096$47,303$329,206
14$567,635$174,097$49,668$343,869
15$596,016$184,598$52,151$359,267
16$625,817$195,625$54,759$375,434
17$657,108$207,202$57,497$392,409
18$689,963$219,359$60,372$410,233
19$724,461$232,123$63,390$428,948
20$760,685$245,526$66,560$448,599
21$798,719$259,598$69,888$469,233
22$838,655$274,374$73,382$490,898
23$880,587$289,890$77,051$513,646
24$924,617$306,180$80,904$537,532
25$970,848$323,286$84,949$562,613
26$1,019,390$341,247$89,197$588,947
27$1,070,360$360,105$93,656$616,598
28$1,123,878$379,907$98,339$645,631
29$1,180,071$400,699$103,256$676,116
30$1,239,075$422,530$108,419$708,126
Total$20,000,000$6,352,002$1,749,997$11,897,999

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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.