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, Jul 08, 2025
$70,000,000
Federal tax
Select your filing status.
-$16,800,000State tax
Select your state.
-$3,360,000Net jackpot after tax
$49,840,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $1,053,600 | $50,573 | $252,864 | $750,164 |
| 2 | $1,106,280 | $53,101 | $265,507 | $787,672 |
| 3 | $1,161,595 | $55,757 | $278,783 | $827,055 |
| 4 | $1,219,674 | $58,544 | $292,722 | $868,408 |
| 5 | $1,280,658 | $61,472 | $307,358 | $911,828 |
| 6 | $1,344,691 | $64,545 | $322,726 | $957,420 |
| 7 | $1,411,925 | $67,772 | $338,862 | $1,005,291 |
| 8 | $1,482,522 | $71,161 | $355,805 | $1,055,555 |
| 9 | $1,556,648 | $74,719 | $373,595 | $1,108,333 |
| 10 | $1,634,480 | $78,455 | $392,275 | $1,163,750 |
| 11 | $1,716,204 | $82,378 | $411,889 | $1,221,937 |
| 12 | $1,802,014 | $86,497 | $432,483 | $1,283,034 |
| 13 | $1,892,115 | $90,822 | $454,108 | $1,347,186 |
| 14 | $1,986,721 | $95,363 | $476,813 | $1,414,545 |
| 15 | $2,086,057 | $100,131 | $500,654 | $1,485,272 |
| 16 | $2,190,360 | $105,137 | $525,686 | $1,559,536 |
| 17 | $2,299,878 | $110,394 | $551,971 | $1,637,513 |
| 18 | $2,414,872 | $115,914 | $579,569 | $1,719,389 |
| 19 | $2,535,615 | $121,710 | $608,548 | $1,805,358 |
| 20 | $2,662,396 | $127,795 | $638,975 | $1,895,626 |
| 21 | $2,795,516 | $134,185 | $670,924 | $1,990,407 |
| 22 | $2,935,291 | $140,894 | $704,470 | $2,089,928 |
| 23 | $3,082,056 | $147,939 | $739,693 | $2,194,424 |
| 24 | $3,236,159 | $155,336 | $776,678 | $2,304,145 |
| 25 | $3,397,967 | $163,102 | $815,512 | $2,419,352 |
| 26 | $3,567,865 | $171,258 | $856,288 | $2,540,320 |
| 27 | $3,746,258 | $179,820 | $899,102 | $2,667,336 |
| 28 | $3,933,571 | $188,811 | $944,057 | $2,800,703 |
| 29 | $4,130,250 | $198,252 | $991,260 | $2,940,738 |
| 30 | $4,336,762 | $208,165 | $1,040,823 | $3,087,775 |
| Total | $70,000,000 | $3,360,000 | $16,800,000 | $49,840,000 |
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.
