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Vermont Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 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 $101,000,000 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 5, 2023
Jackpot:$101,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,520,195$520,660$133,017$866,518
2$1,596,205$548,783$139,668$907,753
3$1,676,015$578,313$146,651$951,050
4$1,759,816$609,320$153,984$996,512
5$1,847,806$641,876$161,683$1,044,247
6$1,940,197$676,061$169,767$1,094,369
7$2,037,207$711,954$178,256$1,146,997
8$2,139,067$749,643$187,168$1,202,256
9$2,246,020$789,215$196,527$1,260,278
10$2,358,321$830,767$206,353$1,321,202
11$2,476,237$874,396$216,671$1,385,171
12$2,600,049$920,206$227,504$1,452,339
13$2,730,052$968,307$238,880$1,522,865
14$2,866,554$1,018,813$250,824$1,596,918
15$3,009,882$1,071,844$263,365$1,674,673
16$3,160,376$1,127,527$276,533$1,756,316
17$3,318,395$1,185,994$290,360$1,842,041
18$3,484,315$1,247,384$304,878$1,932,053
19$3,658,530$1,311,844$320,121$2,026,565
20$3,841,457$1,379,527$336,127$2,125,803
21$4,033,530$1,450,594$352,934$2,230,002
22$4,235,206$1,525,214$370,581$2,339,412
23$4,446,967$1,603,565$389,110$2,454,292
24$4,669,315$1,685,834$408,565$2,574,916
25$4,902,781$1,772,217$428,993$2,701,571
26$5,147,920$1,862,918$450,443$2,834,559
27$5,405,316$1,958,155$472,965$2,974,196
28$5,675,581$2,058,153$496,613$3,120,815
29$5,959,360$2,163,151$521,444$3,274,765
30$6,257,329$2,273,399$547,516$3,436,413
Total$101,000,000$36,115,634$8,837,501$56,046,867

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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.