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Vermont Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 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 $1,337,000,000 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, Jul 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,403,982$1,760,830$10,958,957
2$21,129,957$7,776,272$1,848,871$11,504,814
3$22,186,455$8,167,176$1,941,315$12,077,964
4$23,295,778$8,577,626$2,038,381$12,679,772
5$24,460,566$9,008,597$2,140,300$13,311,669
6$25,683,595$9,461,118$2,247,315$13,975,162
7$26,967,775$9,936,265$2,359,680$14,671,830
8$28,316,164$10,435,168$2,477,664$15,403,331
9$29,731,972$10,959,017$2,601,548$16,171,407
10$31,218,570$11,509,059$2,731,625$16,977,887
11$32,779,499$12,086,602$2,868,206$17,824,690
12$34,418,474$12,693,023$3,011,616$18,713,834
13$36,139,397$13,329,765$3,162,197$19,647,435
14$37,946,368$13,998,344$3,320,307$20,627,717
15$39,843,686$14,700,351$3,486,322$21,657,012
16$41,835,870$15,437,460$3,660,639$22,737,772
17$43,927,663$16,211,423$3,843,671$23,872,569
18$46,124,047$17,024,085$4,035,854$25,064,108
19$48,430,249$17,877,380$4,237,647$26,315,222
20$50,851,761$18,773,340$4,449,529$27,628,893
21$53,394,349$19,714,097$4,672,006$29,008,247
22$56,064,067$20,701,892$4,905,606$30,456,568
23$58,867,270$21,739,078$5,150,886$31,977,306
24$61,810,633$22,828,122$5,408,430$33,574,081
25$64,901,165$23,971,619$5,678,852$35,250,694
26$68,146,224$25,172,291$5,962,795$37,011,139
27$71,553,535$26,432,996$6,260,934$38,859,605
28$75,131,211$27,756,736$6,573,981$40,800,494
29$78,887,772$29,146,663$6,902,680$42,838,428
30$82,832,161$30,606,087$7,247,814$44,978,260
Total$1,337,000,003$493,435,634$116,987,501$726,576,867

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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.