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, Oct 21, 2025
$650,000,000
Federal tax
Select your filing status.
-$156,000,000State tax
Select your state.
-$31,200,000Net jackpot after tax
$462,800,001
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $9,783,433 | $469,605 | $2,348,024 | $6,965,804 |
| 2 | $10,272,604 | $493,085 | $2,465,425 | $7,314,094 |
| 3 | $10,786,235 | $517,739 | $2,588,696 | $7,679,799 |
| 4 | $11,325,546 | $543,626 | $2,718,131 | $8,063,789 |
| 5 | $11,891,824 | $570,808 | $2,854,038 | $8,466,978 |
| 6 | $12,486,415 | $599,348 | $2,996,740 | $8,890,327 |
| 7 | $13,110,736 | $629,315 | $3,146,577 | $9,334,844 |
| 8 | $13,766,272 | $660,781 | $3,303,905 | $9,801,586 |
| 9 | $14,454,586 | $693,820 | $3,469,101 | $10,291,665 |
| 10 | $15,177,315 | $728,511 | $3,642,556 | $10,806,249 |
| 11 | $15,936,181 | $764,937 | $3,824,683 | $11,346,561 |
| 12 | $16,732,990 | $803,184 | $4,015,918 | $11,913,889 |
| 13 | $17,569,640 | $843,343 | $4,216,714 | $12,509,583 |
| 14 | $18,448,122 | $885,510 | $4,427,549 | $13,135,063 |
| 15 | $19,370,528 | $929,785 | $4,648,927 | $13,791,816 |
| 16 | $20,339,054 | $976,275 | $4,881,373 | $14,481,407 |
| 17 | $21,356,007 | $1,025,088 | $5,125,442 | $15,205,477 |
| 18 | $22,423,807 | $1,076,343 | $5,381,714 | $15,965,751 |
| 19 | $23,544,998 | $1,130,160 | $5,650,799 | $16,764,038 |
| 20 | $24,722,247 | $1,186,668 | $5,933,339 | $17,602,240 |
| 21 | $25,958,360 | $1,246,001 | $6,230,006 | $18,482,352 |
| 22 | $27,256,278 | $1,308,301 | $6,541,507 | $19,406,470 |
| 23 | $28,619,092 | $1,373,716 | $6,868,582 | $20,376,793 |
| 24 | $30,050,046 | $1,442,402 | $7,212,011 | $21,395,633 |
| 25 | $31,552,549 | $1,514,522 | $7,572,612 | $22,465,415 |
| 26 | $33,130,176 | $1,590,248 | $7,951,242 | $23,588,685 |
| 27 | $34,786,685 | $1,669,761 | $8,348,804 | $24,768,120 |
| 28 | $36,526,019 | $1,753,249 | $8,766,245 | $26,006,526 |
| 29 | $38,352,320 | $1,840,911 | $9,204,557 | $27,306,852 |
| 30 | $40,269,936 | $1,932,957 | $9,664,785 | $28,672,194 |
| Total | $650,000,000 | $31,200,000 | $156,000,000 | $462,800,001 |
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.
