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

Friday, Jan 13, 2023

$1,350,000,000

Federal Tax

Select your filing status.

-$324,000,008

State Tax

Select your state.

-$64,800,000

Net Jackpot After Tax

$961,199,994

Payment Schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $20,319,437 $975,333 $4,876,665 $14,467,439
2 $21,335,409 $1,024,100 $5,120,498 $15,190,811
3 $22,402,180 $1,075,305 $5,376,523 $15,950,352
4 $23,522,289 $1,129,070 $5,645,350 $16,747,869
5 $24,698,403 $1,185,523 $5,927,617 $17,585,263
6 $25,933,323 $1,244,800 $6,223,998 $18,464,526
7 $27,229,989 $1,307,039 $6,535,198 $19,387,752
8 $28,591,489 $1,372,391 $6,861,958 $20,357,140
9 $30,021,063 $1,441,011 $7,205,055 $21,374,997
10 $31,522,117 $1,513,062 $7,565,308 $22,443,747
11 $33,098,222 $1,588,715 $7,943,574 $23,565,934
12 $34,753,133 $1,668,150 $8,340,752 $24,744,231
13 $36,490,790 $1,751,558 $8,757,790 $25,981,442
14 $38,315,330 $1,839,136 $9,195,679 $27,280,514
15 $40,231,096 $1,931,093 $9,655,463 $28,644,540
16 $42,242,651 $2,027,647 $10,138,236 $30,076,767
17 $44,354,784 $2,129,030 $10,645,148 $31,580,606
18 $46,572,523 $2,235,481 $11,177,406 $33,159,636
19 $48,901,149 $2,347,255 $11,736,276 $34,817,618
20 $51,346,206 $2,464,618 $12,323,090 $36,558,499
21 $53,913,517 $2,587,849 $12,939,244 $38,386,424
22 $56,609,192 $2,717,241 $13,586,206 $40,305,745
23 $59,439,652 $2,853,103 $14,265,517 $42,321,032
24 $62,411,635 $2,995,758 $14,978,793 $44,437,084
25 $65,532,216 $3,145,546 $15,727,732 $46,658,938
26 $68,808,827 $3,302,824 $16,514,119 $48,991,885
27 $72,249,269 $3,467,965 $17,339,825 $51,441,479
28 $75,861,732 $3,641,363 $18,206,816 $54,013,553
29 $79,654,819 $3,823,431 $19,117,157 $56,714,231
30 $83,637,559 $4,014,603 $20,073,015 $59,549,942
Total $1,350,000,000 $64,800,000 $324,000,008 $961,199,994

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.