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Vermont Mega Millions Jackpot Annuity Payout Schedule for Sep 12, 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 $141,000,000 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, Sep 12, 2023
Jackpot:$141,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,122,252$743,421$185,697$1,193,134
2$2,228,365$782,683$194,982$1,250,700
3$2,339,783$823,908$204,731$1,311,145
4$2,456,772$867,194$214,968$1,374,611
5$2,579,611$912,644$225,716$1,441,251
6$2,708,592$960,367$237,002$1,511,223
7$2,844,021$1,010,476$248,852$1,584,694
8$2,986,222$1,063,090$261,294$1,661,838
9$3,135,533$1,118,335$274,359$1,742,839
10$3,292,310$1,176,342$288,077$1,827,890
11$3,456,925$1,237,250$302,481$1,917,194
12$3,629,772$1,301,203$317,605$2,010,963
13$3,811,260$1,368,354$333,485$2,109,421
14$4,001,823$1,438,862$350,160$2,212,801
15$4,201,914$1,512,896$367,668$2,321,351
16$4,412,010$1,590,632$386,051$2,435,328
17$4,632,611$1,672,254$405,353$2,555,004
18$4,864,241$1,757,957$425,621$2,680,663
19$5,107,453$1,847,945$446,902$2,812,606
20$5,362,826$1,942,433$469,247$2,951,145
21$5,630,967$2,041,646$492,710$3,096,612
22$5,912,516$2,145,819$517,345$3,249,352
23$6,208,141$2,255,200$543,212$3,409,729
24$6,518,548$2,370,051$570,373$3,578,125
25$6,844,476$2,490,644$598,892$3,754,940
26$7,186,700$2,617,267$628,836$3,940,597
27$7,546,035$2,750,221$660,278$4,135,536
28$7,923,336$2,889,822$693,292$4,340,222
29$8,319,503$3,036,404$727,957$4,555,143
30$8,735,478$3,190,315$764,354$4,780,809
Total$141,000,000$50,915,635$12,337,500$77,746,866

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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.