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, Sep 28, 2021

$22,000,000

Federal Tax

Select your filing status.

-$5,280,007

State Tax

Select your state.

-$1,056,000

Net Jackpot After Tax

$15,663,993

Payment Schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $331,132 $15,894 $79,472 $235,765
2 $347,688 $16,689 $83,445 $247,554
3 $365,073 $17,523 $87,618 $259,931
4 $383,326 $18,400 $91,999 $272,928
5 $402,492 $19,320 $96,598 $286,574
6 $422,617 $20,286 $101,428 $300,903
7 $443,748 $21,300 $106,500 $315,948
8 $465,935 $22,365 $111,825 $331,746
9 $489,232 $23,483 $117,416 $348,333
10 $513,694 $24,657 $123,287 $365,750
11 $539,378 $25,890 $129,451 $384,037
12 $566,347 $27,185 $135,924 $403,239
13 $594,665 $28,544 $142,720 $423,401
14 $624,398 $29,971 $149,856 $444,571
15 $655,618 $31,470 $157,349 $466,800
16 $688,399 $33,043 $165,216 $490,140
17 $722,819 $34,695 $173,477 $514,647
18 $758,960 $36,430 $182,151 $540,379
19 $796,908 $38,252 $191,258 $567,398
20 $836,753 $40,164 $200,821 $595,768
21 $878,591 $42,172 $210,862 $625,556
22 $922,520 $44,281 $221,405 $656,834
23 $968,646 $46,495 $232,475 $689,676
24 $1,017,078 $48,820 $244,099 $724,160
25 $1,067,932 $51,261 $256,304 $760,368
26 $1,121,329 $53,824 $269,119 $798,386
27 $1,177,395 $56,515 $282,575 $838,305
28 $1,236,265 $59,341 $296,704 $880,221
29 $1,298,079 $62,308 $311,539 $924,232
30 $1,362,982 $65,423 $327,116 $970,443
Total $22,000,000 $1,056,000 $5,280,007 $15,663,993

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.