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Mega Millions Annuity Jackpot Analysis for New York (Nov. 9, 2018 Drawing)

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $90,000,000 would be for a resident of New York, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

New York

Drawing Date:  Nov. 9, 2018
Jackpot:$90,000,000
Federal Tax:  24%
State Tax:8.82%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,354,629$325,111$119,478$910,040
2$1,422,361$341,367$125,452$955,542
3$1,493,479$358,435$131,725$1,003,319
4$1,568,153$376,357$138,311$1,053,485
5$1,646,560$395,174$145,227$1,106,159
6$1,728,888$414,933$152,488$1,161,467
7$1,815,333$435,680$160,112$1,219,540
8$1,906,099$457,464$168,118$1,280,518
9$2,001,404$480,337$176,524$1,344,543
10$2,101,474$504,354$185,350$1,411,771
11$2,206,548$529,572$194,618$1,482,359
12$2,316,876$556,050$204,348$1,556,477
13$2,432,719$583,853$214,566$1,634,301
14$2,554,355$613,045$225,294$1,716,016
15$2,682,073$643,698$236,559$1,801,817
16$2,816,177$675,882$248,387$1,891,908
17$2,956,986$709,677$260,806$1,986,503
18$3,104,835$745,160$273,846$2,085,828
19$3,260,077$782,418$287,539$2,190,119
20$3,423,080$821,539$301,916$2,299,625
21$3,594,234$862,616$317,011$2,414,607
22$3,773,946$905,747$332,862$2,535,337
23$3,962,643$951,034$349,505$2,662,104
24$4,160,776$998,586$366,980$2,795,209
25$4,368,814$1,048,515$385,329$2,934,970
26$4,587,255$1,100,941$404,596$3,081,718
27$4,816,618$1,155,988$424,826$3,235,804
28$5,057,449$1,213,788$446,067$3,397,594
29$5,310,321$1,274,477$468,370$3,567,474
30$5,575,837$1,338,201$491,789$3,745,848
Total$90,000,000$21,600,000$7,938,000$60,462,000
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