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Vermont Mega Millions Jackpot Annuity Payout Schedule for Dec 6, 2022

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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 $354,000,000 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, Dec 6, 2022
Jackpot:$354,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,328,208$1,929,625$466,218$2,932,365
2$5,594,618$2,028,197$489,529$3,076,893
3$5,874,349$2,131,697$514,006$3,228,647
4$6,168,067$2,240,373$539,706$3,387,989
5$6,476,470$2,354,482$566,691$3,555,297
6$6,800,294$2,474,296$595,026$3,730,972
7$7,140,309$2,600,102$624,777$3,915,430
8$7,497,324$2,732,198$656,016$4,109,110
9$7,872,190$2,870,898$688,817$4,312,475
10$8,265,799$3,016,534$723,257$4,526,008
11$8,679,090$3,169,451$759,420$4,750,218
12$9,113,044$3,330,014$797,391$4,985,639
13$9,568,696$3,498,605$837,261$5,232,830
14$10,047,131$3,675,626$879,124$5,492,381
15$10,549,487$3,861,498$923,080$5,764,909
16$11,076,962$4,056,664$969,234$6,051,064
17$11,630,810$4,261,587$1,017,696$6,351,527
18$12,212,350$4,476,757$1,068,581$6,667,012
19$12,822,968$4,702,686$1,122,010$6,998,272
20$13,464,116$4,939,911$1,178,110$7,346,095
21$14,137,322$5,188,997$1,237,016$7,711,309
22$14,844,188$5,450,537$1,298,866$8,094,784
23$15,586,398$5,725,155$1,363,810$8,497,433
24$16,365,717$6,013,503$1,432,000$8,920,214
25$17,184,003$6,316,269$1,503,600$9,364,134
26$18,043,204$6,634,173$1,578,780$9,830,250
27$18,945,364$6,967,972$1,657,719$10,319,672
28$19,892,632$7,318,461$1,740,605$10,833,565
29$20,887,263$7,686,475$1,827,636$11,373,153
30$21,931,627$8,072,890$1,919,017$11,939,720
Total$354,000,001$129,725,633$30,974,999$193,299,367

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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.