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Vermont Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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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 $105,000,000 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, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$547,703$138,285$894,412
2$1,659,421$576,941$145,199$937,281
3$1,742,392$607,640$152,459$982,293
4$1,829,511$639,874$160,082$1,029,555
5$1,920,987$673,720$168,086$1,079,180
6$2,017,036$709,258$176,491$1,131,287
7$2,117,888$746,574$185,315$1,185,999
8$2,223,783$785,755$194,581$1,243,447
9$2,334,972$826,895$204,310$1,303,767
10$2,451,720$870,091$214,526$1,367,103
11$2,574,306$915,448$225,252$1,433,606
12$2,703,022$963,073$236,514$1,503,434
13$2,838,173$1,013,079$248,340$1,576,754
14$2,980,081$1,065,585$260,757$1,653,739
15$3,129,085$1,120,717$273,795$1,734,574
16$3,285,540$1,178,605$287,485$1,819,450
17$3,449,816$1,239,387$301,859$1,908,570
18$3,622,307$1,303,209$316,952$2,002,147
19$3,803,423$1,370,221$332,799$2,100,402
20$3,993,594$1,440,585$349,439$2,203,570
21$4,193,273$1,514,466$366,911$2,311,896
22$4,402,937$1,592,042$385,257$2,425,638
23$4,623,084$1,673,496$404,520$2,545,068
24$4,854,238$1,759,023$424,746$2,670,469
25$5,096,950$1,848,827$445,983$2,802,140
26$5,351,798$1,943,120$468,282$2,940,395
27$5,619,388$2,042,128$491,696$3,085,563
28$5,900,357$2,146,087$516,281$3,237,989
29$6,195,375$2,255,244$542,095$3,398,036
30$6,505,144$2,369,858$569,200$3,566,085
Total$105,000,000$37,738,651$9,187,497$58,073,849

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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.