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Mega Millions Annuity Jackpot Analysis for New York (May. 25, 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 $73,000,000 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:  May. 25, 2018
Jackpot:$73,000,000
Federal Tax:  24%
State Tax:8.82%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,098,755$263,701$96,910$738,143
2$1,153,693$276,886$101,756$775,051
3$1,211,377$290,731$106,843$813,803
4$1,271,946$305,267$112,186$854,493
5$1,335,543$320,530$117,795$897,218
6$1,402,320$336,557$123,685$942,079
7$1,472,436$353,385$129,869$989,183
8$1,546,058$371,054$136,362$1,038,642
9$1,623,361$389,607$143,180$1,090,574
10$1,704,529$409,087$150,339$1,145,103
11$1,789,756$429,541$157,856$1,202,358
12$1,879,244$451,018$165,749$1,262,476
13$1,973,206$473,569$174,037$1,325,600
14$2,071,866$497,248$182,739$1,391,880
15$2,175,459$522,110$191,876$1,461,474
16$2,284,232$548,216$201,469$1,534,547
17$2,398,444$575,627$211,543$1,611,275
18$2,518,366$604,408$222,120$1,691,838
19$2,644,284$634,628$233,226$1,776,430
20$2,776,499$666,360$244,887$1,865,252
21$2,915,323$699,678$257,132$1,958,514
22$3,061,090$734,662$269,988$2,056,440
23$3,214,144$771,395$283,488$2,159,262
24$3,374,851$809,964$297,662$2,267,225
25$3,543,594$850,463$312,545$2,380,586
26$3,720,774$892,986$328,172$2,499,616
27$3,906,812$937,635$344,581$2,624,597
28$4,102,153$984,517$361,810$2,755,826
29$4,307,261$1,033,743$379,900$2,893,618
30$4,522,624$1,085,430$398,895$3,038,299
Total$73,000,000$17,520,000$6,438,600$49,041,400
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