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Vermont Mega Millions Jackpot Annuity Payout Schedule for Aug 1, 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 $1,100,000,000 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, Aug 1, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$1,448,701$9,023,756
2$17,384,408$6,390,419$1,521,136$9,472,853
3$18,253,628$6,712,030$1,597,192$9,944,405
4$19,166,310$7,049,722$1,677,052$10,439,535
5$20,124,624$7,404,299$1,760,905$10,959,421
6$21,130,856$7,776,604$1,848,950$11,505,302
7$22,187,399$8,167,525$1,941,397$12,078,476
8$23,296,769$8,577,992$2,038,467$12,680,309
9$24,461,608$9,008,983$2,140,391$13,312,234
10$25,684,688$9,461,522$2,247,410$13,975,755
11$26,968,922$9,936,689$2,359,781$14,672,453
12$28,317,368$10,435,614$2,477,770$15,403,984
13$29,733,237$10,959,485$2,601,658$16,172,093
14$31,219,899$11,509,550$2,731,741$16,978,607
15$32,780,893$12,087,118$2,868,328$17,825,447
16$34,419,938$12,693,565$3,011,745$18,714,629
17$36,140,935$13,330,334$3,162,332$19,648,269
18$37,947,982$13,998,941$3,320,448$20,628,592
19$39,845,380$14,700,978$3,486,471$21,657,931
20$41,837,650$15,438,118$3,660,794$22,738,737
21$43,929,532$16,212,115$3,843,834$23,873,583
22$46,126,009$17,024,811$4,036,026$25,065,172
23$48,432,309$17,878,142$4,237,827$26,316,340
24$50,853,924$18,774,140$4,449,718$27,630,066
25$53,396,620$19,714,937$4,672,204$29,009,479
26$56,066,452$20,702,775$4,905,815$30,457,863
27$58,869,775$21,740,004$5,151,105$31,978,665
28$61,813,263$22,829,095$5,408,660$33,575,507
29$64,903,926$23,972,640$5,679,094$35,252,192
30$68,149,123$25,173,363$5,963,048$37,012,711
Total$1,100,000,002$405,745,632$96,250,000$598,004,366

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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.