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Vermont Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $52,000,000 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, Aug 25, 2023
Jackpot:$52,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$247,777$68,484$466,413
2$821,808$262,257$71,908$487,643
3$862,899$277,460$75,504$509,935
4$906,044$293,424$79,279$533,341
5$951,346$310,186$83,243$557,917
6$998,913$327,786$87,405$583,723
7$1,048,859$346,266$91,775$610,818
8$1,101,302$365,669$96,364$639,268
9$1,156,367$386,044$101,182$669,141
10$1,214,185$407,436$106,241$700,508
11$1,274,895$429,899$111,553$733,443
12$1,338,639$453,484$117,131$768,024
13$1,405,571$478,249$122,987$804,335
14$1,475,850$504,252$129,137$842,461
15$1,549,642$531,555$135,594$882,493
16$1,627,124$560,224$142,373$924,527
17$1,708,481$590,326$149,492$968,663
18$1,793,905$621,932$156,967$1,015,005
19$1,883,600$655,120$164,815$1,063,665
20$1,977,780$689,966$173,056$1,114,758
21$2,076,669$726,555$181,709$1,168,405
22$2,180,502$764,974$190,794$1,224,735
23$2,289,527$805,313$200,334$1,283,881
24$2,404,004$847,669$210,350$1,345,984
25$2,524,204$892,143$220,868$1,411,193
26$2,650,414$938,841$231,911$1,479,662
27$2,782,935$987,874$243,507$1,551,554
28$2,922,082$1,039,358$255,682$1,627,041
29$3,068,186$1,093,416$268,466$1,706,303
30$3,221,595$1,150,178$281,890$1,789,527
Total$52,000,000$17,985,633$4,550,001$29,464,366

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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.