Mega Millions Annuity Payment Schedule

Here’s how the current Mega Millions jackpot will be paid if the annuity option is selected.

Current Mega Millions jackpot

Tuesday, Apr 30, 2024

$257,000,000

Federal tax

Select your filing status.

-$61,680,000

State tax

Select your state.

-$12,336,000

Net jackpot after tax

$182,984,000

Payment schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $3,868,219 $185,675 $928,373 $2,754,172
2 $4,061,630 $194,958 $974,791 $2,891,880
3 $4,264,711 $204,706 $1,023,531 $3,036,474
4 $4,477,947 $214,941 $1,074,707 $3,188,298
5 $4,701,844 $225,689 $1,128,443 $3,347,713
6 $4,936,936 $236,973 $1,184,865 $3,515,099
7 $5,183,783 $248,822 $1,244,108 $3,690,854
8 $5,442,972 $261,263 $1,306,313 $3,875,396
9 $5,715,121 $274,326 $1,371,629 $4,069,166
10 $6,000,877 $288,042 $1,440,210 $4,272,624
11 $6,300,921 $302,444 $1,512,221 $4,486,256
12 $6,615,967 $317,566 $1,587,832 $4,710,568
13 $6,946,765 $333,445 $1,667,224 $4,946,097
14 $7,294,104 $350,117 $1,750,585 $5,193,402
15 $7,658,809 $367,623 $1,838,114 $5,453,072
16 $8,041,749 $386,004 $1,930,020 $5,725,725
17 $8,443,837 $405,304 $2,026,521 $6,012,012
18 $8,866,028 $425,569 $2,127,847 $6,312,612
19 $9,309,330 $446,848 $2,234,239 $6,628,243
20 $9,774,796 $469,190 $2,345,951 $6,959,655
21 $10,263,536 $492,650 $2,463,249 $7,307,638
22 $10,776,713 $517,282 $2,586,411 $7,673,020
23 $11,315,549 $543,146 $2,715,732 $8,056,671
24 $11,881,326 $570,304 $2,851,518 $8,459,504
25 $12,475,392 $598,819 $2,994,094 $8,882,479
26 $13,099,162 $628,760 $3,143,799 $9,326,603
27 $13,754,120 $660,198 $3,300,989 $9,792,933
28 $14,441,826 $693,208 $3,466,038 $10,282,580
29 $15,163,917 $727,868 $3,639,340 $10,796,709
30 $15,922,113 $764,261 $3,821,307 $11,336,545
Total $257,000,000 $12,336,000 $61,680,000 $182,984,000

Notes

  • Each annual annuity payment increases by 5% from the previous year.
  • For clarity, we assumed that payments 1 and 2 are made in separate tax years.
  • The lottery automatically withholds 24% of each payment for federal taxes. When you file your taxes, you will be responsible for the difference between that withholding and what you owe to the IRS.
  • In some states, the lottery also withholds a portion of annual payments for state taxes.
  • The highest federal tax bracket of 37% is assumed for these examples because all Mega Millions jackpot winners will fall into this category.
  • Tax estimates are based on jackpot income only and do not include any other taxes you may owe.
  • We assume single state residency only and do not consider non-state resident tax. In the situation when the winner resides in a different state than the one where the winnings were registered, additional state taxes may be added.
  • This calculator is intended to provide an estimate of taxes, but should not be considered tax advice. We do not take responsibility for any inaccuracies or omissions.
  • Consult with a professional tax advisor and accountant to avoid any surprise tax bills.
  • Federal and/or state tax rates may change during the annuity schedule, which could affect how much you owe.