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Vermont Mega Millions Jackpot Annuity Payout Schedule for Jun 28, 2024

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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 $116,000,000 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, Jun 28, 2024
Jackpot:$116,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,745,966$604,195$152,772$988,999
2$1,833,265$636,496$160,411$1,036,358
3$1,924,928$670,411$168,431$1,086,086
4$2,021,174$706,022$176,853$1,138,299
5$2,122,233$743,414$185,695$1,193,124
6$2,228,345$782,675$194,980$1,250,689
7$2,339,762$823,900$204,729$1,311,133
8$2,456,750$867,185$214,966$1,374,599
9$2,579,588$912,635$225,714$1,441,239
10$2,708,567$960,358$237,000$1,511,210
11$2,843,995$1,010,466$248,850$1,584,680
12$2,986,195$1,063,080$261,292$1,661,823
13$3,135,505$1,118,325$274,357$1,742,824
14$3,292,280$1,176,331$288,075$1,827,874
15$3,456,894$1,237,239$302,478$1,917,177
16$3,629,739$1,301,191$317,602$2,010,946
17$3,811,226$1,368,341$333,482$2,109,402
18$4,001,787$1,438,849$350,156$2,212,782
19$4,201,876$1,512,882$367,664$2,321,330
20$4,411,970$1,590,617$386,047$2,435,306
21$4,632,569$1,672,238$405,350$2,554,981
22$4,864,197$1,757,941$425,617$2,680,639
23$5,107,407$1,847,928$446,898$2,812,581
24$5,362,777$1,942,415$469,243$2,951,119
25$5,630,916$2,041,627$492,705$3,096,584
26$5,912,462$2,145,799$517,340$3,249,323
27$6,208,085$2,255,179$543,207$3,409,699
28$6,518,490$2,370,029$570,368$3,578,093
29$6,844,414$2,490,621$598,886$3,754,907
30$7,186,635$2,617,243$628,831$3,940,562
Total$116,000,000$41,665,632$10,149,999$64,184,368

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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.