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
$403,000,000
Federal tax
Select your filing status.
-$96,720,000State tax
Select your state.
-$19,344,000Net jackpot after tax
$286,936,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $6,065,728 | $291,155 | $1,455,775 | $4,318,799 |
| 2 | $6,369,015 | $305,713 | $1,528,564 | $4,534,739 |
| 3 | $6,687,466 | $320,998 | $1,604,992 | $4,761,475 |
| 4 | $7,021,839 | $337,048 | $1,685,241 | $4,999,549 |
| 5 | $7,372,931 | $353,901 | $1,769,503 | $5,249,527 |
| 6 | $7,741,577 | $371,596 | $1,857,979 | $5,512,003 |
| 7 | $8,128,656 | $390,175 | $1,950,877 | $5,787,603 |
| 8 | $8,535,089 | $409,684 | $2,048,421 | $6,076,983 |
| 9 | $8,961,843 | $430,168 | $2,150,842 | $6,380,832 |
| 10 | $9,409,936 | $451,677 | $2,258,385 | $6,699,874 |
| 11 | $9,880,432 | $474,261 | $2,371,304 | $7,034,868 |
| 12 | $10,374,454 | $497,974 | $2,489,869 | $7,386,611 |
| 13 | $10,893,177 | $522,872 | $2,614,362 | $7,755,942 |
| 14 | $11,437,835 | $549,016 | $2,745,081 | $8,143,739 |
| 15 | $12,009,727 | $576,467 | $2,882,335 | $8,550,926 |
| 16 | $12,610,214 | $605,290 | $3,026,451 | $8,978,472 |
| 17 | $13,240,724 | $635,555 | $3,177,774 | $9,427,396 |
| 18 | $13,902,760 | $667,333 | $3,336,663 | $9,898,765 |
| 19 | $14,597,899 | $700,699 | $3,503,496 | $10,393,704 |
| 20 | $15,327,793 | $735,734 | $3,678,670 | $10,913,389 |
| 21 | $16,094,183 | $772,521 | $3,862,604 | $11,459,058 |
| 22 | $16,898,892 | $811,147 | $4,055,734 | $12,032,011 |
| 23 | $17,743,837 | $851,704 | $4,258,521 | $12,633,612 |
| 24 | $18,631,029 | $894,289 | $4,471,447 | $13,265,292 |
| 25 | $19,562,580 | $939,004 | $4,695,019 | $13,928,557 |
| 26 | $20,540,709 | $985,954 | $4,929,770 | $14,624,985 |
| 27 | $21,567,745 | $1,035,252 | $5,176,259 | $15,356,234 |
| 28 | $22,646,132 | $1,087,014 | $5,435,072 | $16,124,046 |
| 29 | $23,778,438 | $1,141,365 | $5,706,825 | $16,930,248 |
| 30 | $24,967,360 | $1,198,433 | $5,992,166 | $17,776,761 |
| Total | $403,000,000 | $19,344,000 | $96,720,000 | $286,936,000 |
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.
