USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 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 $33,000,000 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 22, 2023
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$43,461$309,018
2$521,532$152,911$45,634$322,987
3$547,609$162,038$47,916$337,655
4$574,989$171,621$50,312$353,057
5$603,739$181,683$52,827$369,228
6$633,926$192,740$55,468$385,717
7$665,622$204,468$58,242$402,912
8$698,903$216,782$61,154$420,967
9$733,848$229,712$64,212$439,925
10$770,541$243,288$67,422$459,831
11$809,068$257,543$70,793$480,731
12$849,521$272,511$74,333$502,677
13$891,997$288,227$78,050$525,721
14$936,597$304,729$81,952$549,916
15$983,427$322,056$86,050$575,321
16$1,032,598$340,249$90,352$601,997
17$1,084,228$359,352$94,870$630,006
18$1,138,439$379,410$99,613$659,416
19$1,195,361$400,471$104,594$690,296
20$1,255,129$422,586$109,824$722,720
21$1,317,886$445,806$115,315$756,765
22$1,383,780$470,186$121,081$792,513
23$1,452,969$495,786$127,135$830,048
24$1,525,618$522,666$133,492$869,460
25$1,601,899$550,890$140,166$910,842
26$1,681,994$580,525$147,174$954,294
27$1,766,093$611,642$154,533$999,918
28$1,854,398$644,315$162,260$1,047,823
29$1,947,118$678,621$170,373$1,098,124
30$2,044,474$714,643$178,891$1,150,939
Total$33,000,000$10,961,676$2,887,499$19,150,824

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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.