USA Mega

Vermont Mega Millions Jackpot Annuity Payout Schedule for Jun 7, 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 $20,000,000 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 7, 2024
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$26,340$198,954
2$316,080$81,003$27,657$207,420
3$331,884$86,534$29,040$216,310
4$348,478$92,342$30,492$225,644
5$365,902$98,441$32,016$235,445
6$384,197$104,844$33,617$245,736
7$403,407$111,567$35,298$256,542
8$423,578$118,627$37,063$267,888
9$444,757$126,040$38,916$279,801
10$466,994$133,823$40,862$292,310
11$490,344$141,995$42,905$305,444
12$514,861$150,576$45,050$319,235
13$540,604$159,586$47,303$333,715
14$567,635$169,047$49,668$348,920
15$596,016$178,980$52,151$364,884
16$625,817$189,740$54,759$381,318
17$657,108$201,318$57,497$398,293
18$689,963$213,474$60,372$416,117
19$724,461$226,238$63,390$434,833
20$760,685$239,641$66,560$454,484
21$798,719$253,714$69,888$475,117
22$838,655$268,490$73,382$496,782
23$880,587$284,005$77,051$519,531
24$924,617$300,296$80,904$543,417
25$970,848$317,401$84,949$568,497
26$1,019,390$335,362$89,197$594,831
27$1,070,360$354,221$93,656$622,482
28$1,123,878$374,022$98,339$651,516
29$1,180,071$394,814$103,256$682,001
30$1,239,075$416,645$108,419$714,010
Total$20,000,000$6,198,521$1,749,997$12,051,477

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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.