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Vermont Mega Millions Jackpot Annuity Payout Schedule for Jul 7, 2023

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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 $450,000,000 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 7, 2023
Jackpot:$450,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,773,146$2,464,252$592,650$3,716,244
2$7,111,803$2,589,555$622,283$3,899,965
3$7,467,393$2,721,123$653,397$4,092,873
4$7,840,763$2,859,270$686,067$4,295,426
5$8,232,801$3,004,324$720,370$4,508,107
6$8,644,441$3,156,631$756,389$4,731,422
7$9,076,663$3,316,553$794,208$4,965,902
8$9,530,496$3,484,471$833,918$5,212,107
9$10,007,021$3,660,786$875,614$5,470,621
10$10,507,372$3,845,915$919,395$5,742,062
11$11,032,741$4,040,302$965,365$6,027,074
12$11,584,378$4,244,408$1,013,633$6,326,337
13$12,163,597$4,458,719$1,064,315$6,640,563
14$12,771,777$4,683,745$1,117,530$6,970,501
15$13,410,365$4,920,023$1,173,407$7,316,935
16$14,080,884$5,168,115$1,232,077$7,680,692
17$14,784,928$5,428,611$1,293,681$8,062,636
18$15,524,174$5,702,132$1,358,365$8,463,677
19$16,300,383$5,989,329$1,426,283$8,884,770
20$17,115,402$6,290,887$1,497,598$9,326,918
21$17,971,172$6,607,521$1,572,478$9,791,173
22$18,869,731$6,939,988$1,651,101$10,278,641
23$19,813,217$7,289,078$1,733,657$10,790,483
24$20,803,878$7,655,623$1,820,339$11,327,916
25$21,844,072$8,040,494$1,911,356$11,892,221
26$22,936,276$8,444,610$2,006,924$12,484,742
27$24,083,090$8,868,931$2,107,270$13,106,888
28$25,287,244$9,314,468$2,212,634$13,760,142
29$26,551,606$9,782,282$2,323,266$14,446,059
30$27,879,187$10,273,487$2,439,429$15,166,271
Total$450,000,001$165,245,633$39,374,999$245,379,368

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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.