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Vermont Mega Millions Jackpot Annuity Payout Schedule for Feb 2, 2021

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The tax information provided here is based on 2021 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 $42,000,000 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 prize money, as well as deductions claimed.

Vermont

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $632,160 $197,972 $55,314 $378,875
2 $663,768 $209,667 $58,080 $396,022
3 $696,957 $221,946 $60,984 $414,027
4 $731,805 $234,840 $64,033 $432,932
5 $768,395 $248,378 $67,235 $452,782
6 $806,814 $262,594 $70,596 $473,625
7 $847,155 $277,520 $74,126 $495,509
8 $889,513 $293,192 $77,832 $518,489
9 $933,989 $309,648 $81,724 $542,617
10 $980,688 $326,927 $85,810 $567,951
11 $1,029,722 $345,070 $90,101 $594,552
12 $1,081,209 $364,119 $94,606 $622,483
13 $1,135,269 $384,122 $99,336 $651,811
14 $1,192,032 $405,124 $104,303 $682,605
15 $1,251,634 $427,177 $109,518 $714,939
16 $1,314,216 $450,332 $114,994 $748,890
17 $1,379,927 $474,645 $120,744 $784,538
18 $1,448,923 $500,174 $126,781 $821,968
19 $1,521,369 $526,979 $133,120 $861,270
20 $1,597,438 $555,124 $139,776 $902,538
21 $1,677,309 $584,677 $146,765 $945,868
22 $1,761,175 $615,707 $154,103 $991,365
23 $1,849,234 $648,289 $161,808 $1,039,137
24 $1,941,695 $682,500 $169,898 $1,089,297
25 $2,038,780 $718,421 $178,393 $1,141,966
26 $2,140,719 $756,138 $187,313 $1,197,268
27 $2,247,755 $795,742 $196,679 $1,255,335
28 $2,360,143 $837,325 $206,512 $1,316,305
29 $2,478,150 $880,988 $216,838 $1,380,324
30 $2,602,057 $926,833 $227,680 $1,447,544
Total $42,000,000 $14,462,170 $3,675,002 $23,862,832

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.

Mega Millions annuity chart shows the annual net payout a Vermont jackpot winner would get after federal and state taxes. ]]>