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, Jun 02, 2026
$346,000,000
Federal tax
Select your filing status.
-$83,040,000State tax
Select your state.
-$16,608,000Net jackpot after tax
$246,352,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $5,207,797 | $249,974 | $1,249,871 | $3,707,951 |
| 2 | $5,468,186 | $262,473 | $1,312,365 | $3,893,349 |
| 3 | $5,741,596 | $275,597 | $1,377,983 | $4,088,016 |
| 4 | $6,028,675 | $289,376 | $1,446,882 | $4,292,417 |
| 5 | $6,330,109 | $303,845 | $1,519,226 | $4,507,038 |
| 6 | $6,646,615 | $319,038 | $1,595,188 | $4,732,390 |
| 7 | $6,978,945 | $334,989 | $1,674,947 | $4,969,009 |
| 8 | $7,327,893 | $351,739 | $1,758,694 | $5,217,460 |
| 9 | $7,694,287 | $369,326 | $1,846,629 | $5,478,333 |
| 10 | $8,079,002 | $387,792 | $1,938,960 | $5,752,249 |
| 11 | $8,482,952 | $407,182 | $2,035,908 | $6,039,862 |
| 12 | $8,907,099 | $427,541 | $2,137,704 | $6,341,855 |
| 13 | $9,352,454 | $448,918 | $2,244,589 | $6,658,948 |
| 14 | $9,820,077 | $471,364 | $2,356,819 | $6,991,895 |
| 15 | $10,311,081 | $494,932 | $2,474,659 | $7,341,490 |
| 16 | $10,826,635 | $519,678 | $2,598,392 | $7,708,564 |
| 17 | $11,367,967 | $545,662 | $2,728,312 | $8,093,992 |
| 18 | $11,936,365 | $572,946 | $2,864,728 | $8,498,692 |
| 19 | $12,533,183 | $601,593 | $3,007,964 | $8,923,627 |
| 20 | $13,159,842 | $631,672 | $3,158,362 | $9,369,808 |
| 21 | $13,817,835 | $663,256 | $3,316,280 | $9,838,298 |
| 22 | $14,508,726 | $696,419 | $3,482,094 | $10,330,213 |
| 23 | $15,234,163 | $731,240 | $3,656,199 | $10,846,724 |
| 24 | $15,995,871 | $767,802 | $3,839,009 | $11,389,060 |
| 25 | $16,795,664 | $806,192 | $4,030,959 | $11,958,513 |
| 26 | $17,635,448 | $846,501 | $4,232,507 | $12,556,439 |
| 27 | $18,517,220 | $888,827 | $4,444,133 | $13,184,261 |
| 28 | $19,443,081 | $933,268 | $4,666,339 | $13,843,474 |
| 29 | $20,415,235 | $979,931 | $4,899,656 | $14,535,647 |
| 30 | $21,435,997 | $1,028,928 | $5,144,639 | $15,262,430 |
| Total | $346,000,000 | $16,608,000 | $83,040,000 | $246,352,000 |
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.
