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, Jan 25, 2022

$396,000,000

Federal Tax

Select your filing status.

-$95,040,007

State Tax

Select your state.

-$19,008,000

Net Jackpot After Tax

$281,951,993

Payment Schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $5,960,368 $286,098 $1,430,489 $4,243,782
2 $6,258,387 $300,403 $1,502,013 $4,455,971
3 $6,571,306 $315,423 $1,577,114 $4,678,770
4 $6,899,871 $331,194 $1,655,969 $4,912,708
5 $7,244,865 $347,754 $1,738,768 $5,158,344
6 $7,607,108 $365,141 $1,825,706 $5,416,261
7 $7,987,464 $383,398 $1,916,991 $5,687,074
8 $8,386,837 $402,568 $2,012,841 $5,971,428
9 $8,806,179 $422,697 $2,113,483 $6,269,999
10 $9,246,488 $443,831 $2,219,157 $6,583,499
11 $9,708,812 $466,023 $2,330,115 $6,912,674
12 $10,194,252 $489,324 $2,446,621 $7,258,308
13 $10,703,965 $513,790 $2,568,952 $7,621,223
14 $11,239,163 $539,480 $2,697,399 $8,002,284
15 $11,801,122 $566,454 $2,832,269 $8,402,398
16 $12,391,178 $594,777 $2,973,883 $8,822,518
17 $13,010,736 $624,515 $3,122,577 $9,263,644
18 $13,661,273 $655,741 $3,278,706 $9,726,826
19 $14,344,337 $688,528 $3,442,641 $10,213,168
20 $15,061,554 $722,955 $3,614,773 $10,723,826
21 $15,814,632 $759,102 $3,795,512 $11,260,017
22 $16,605,363 $797,057 $3,985,287 $11,823,018
23 $17,435,631 $836,910 $4,184,552 $12,414,169
24 $18,307,413 $878,756 $4,393,779 $13,034,878
25 $19,222,783 $922,694 $4,613,468 $13,686,622
26 $20,183,923 $968,828 $4,844,142 $14,370,953
27 $21,193,119 $1,017,270 $5,086,349 $15,089,500
28 $22,252,775 $1,068,133 $5,340,666 $15,843,975
29 $23,365,413 $1,121,540 $5,607,699 $16,636,174
30 $24,533,684 $1,177,617 $5,888,084 $17,467,983
Total $396,000,000 $19,008,000 $95,040,007 $281,951,993

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.