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, Apr 14, 2026
$120,000,000
Federal tax
Select your filing status.
-$28,800,000State tax
Select your state.
-$5,760,000Net jackpot after tax
$85,440,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $1,806,172 | $86,696 | $433,481 | $1,285,995 |
| 2 | $1,896,481 | $91,031 | $455,155 | $1,350,294 |
| 3 | $1,991,305 | $95,583 | $477,913 | $1,417,809 |
| 4 | $2,090,870 | $100,362 | $501,809 | $1,488,700 |
| 5 | $2,195,414 | $105,380 | $526,899 | $1,563,134 |
| 6 | $2,305,184 | $110,649 | $553,244 | $1,641,291 |
| 7 | $2,420,444 | $116,181 | $580,906 | $1,723,356 |
| 8 | $2,541,466 | $121,990 | $609,952 | $1,809,524 |
| 9 | $2,668,539 | $128,090 | $640,449 | $1,900,000 |
| 10 | $2,801,966 | $134,494 | $672,472 | $1,995,000 |
| 11 | $2,942,064 | $141,219 | $706,095 | $2,094,750 |
| 12 | $3,089,167 | $148,280 | $741,400 | $2,199,487 |
| 13 | $3,243,626 | $155,694 | $778,470 | $2,309,462 |
| 14 | $3,405,807 | $163,479 | $817,394 | $2,424,935 |
| 15 | $3,576,097 | $171,653 | $858,263 | $2,546,181 |
| 16 | $3,754,902 | $180,235 | $901,177 | $2,673,490 |
| 17 | $3,942,647 | $189,247 | $946,235 | $2,807,165 |
| 18 | $4,139,780 | $198,709 | $993,547 | $2,947,523 |
| 19 | $4,346,769 | $208,645 | $1,043,225 | $3,094,899 |
| 20 | $4,564,107 | $219,077 | $1,095,386 | $3,249,644 |
| 21 | $4,792,313 | $230,031 | $1,150,155 | $3,412,127 |
| 22 | $5,031,928 | $241,533 | $1,207,663 | $3,582,733 |
| 23 | $5,283,525 | $253,609 | $1,268,046 | $3,761,870 |
| 24 | $5,547,701 | $266,290 | $1,331,448 | $3,949,963 |
| 25 | $5,825,086 | $279,604 | $1,398,021 | $4,147,461 |
| 26 | $6,116,340 | $293,584 | $1,467,922 | $4,354,834 |
| 27 | $6,422,157 | $308,264 | $1,541,318 | $4,572,576 |
| 28 | $6,743,265 | $323,677 | $1,618,384 | $4,801,205 |
| 29 | $7,080,428 | $339,861 | $1,699,303 | $5,041,265 |
| 30 | $7,434,450 | $356,854 | $1,784,268 | $5,293,328 |
| Total | $120,000,000 | $5,760,000 | $28,800,000 | $85,440,000 |
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.
