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Vermont Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 2023

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The tax information provided here is based on 2025 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 $640,000,000 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, Jul 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,521,200$842,880$5,268,838
2$10,114,564$3,699,409$885,024$5,530,131
3$10,620,292$3,886,528$929,276$5,804,488
4$11,151,308$4,083,004$975,739$6,092,564
5$11,708,872$4,289,303$1,024,526$6,395,043
6$12,294,316$4,505,917$1,075,753$6,712,646
7$12,909,032$4,733,362$1,129,540$7,046,130
8$13,554,484$4,972,179$1,186,017$7,396,287
9$14,232,208$5,222,937$1,245,318$7,763,953
10$14,943,818$5,486,233$1,307,584$8,150,001
11$15,691,009$5,762,694$1,372,963$8,555,352
12$16,475,560$6,052,977$1,441,611$8,980,971
13$17,299,338$6,357,775$1,513,692$9,427,870
14$18,164,305$6,677,813$1,589,377$9,897,115
15$19,072,520$7,013,853$1,668,845$10,389,822
16$20,026,146$7,366,694$1,752,288$10,907,164
17$21,027,453$7,737,178$1,839,902$11,450,373
18$22,078,826$8,126,186$1,931,897$12,020,743
19$23,182,767$8,534,644$2,028,492$12,619,631
20$24,341,905$8,963,525$2,129,917$13,248,463
21$25,559,000$9,413,850$2,236,413$13,908,737
22$26,836,950$9,886,692$2,348,233$14,602,025
23$28,178,798$10,383,176$2,465,645$15,329,978
24$29,587,738$10,904,483$2,588,927$16,094,327
25$31,067,124$11,451,856$2,718,373$16,896,895
26$32,620,481$12,026,598$2,854,292$17,739,591
27$34,251,505$12,630,077$2,997,007$18,624,421
28$35,964,080$13,263,730$3,146,857$19,553,493
29$37,762,284$13,929,065$3,304,200$20,529,019
30$39,650,399$14,627,668$3,469,410$21,553,321
Total$640,000,001$235,510,606$55,999,998$348,489,392

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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.