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California Mega Millions Jackpot Annuity Payout Schedule for Jul 19, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $251,000,000 for a ticket purchased in California, 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

California

Drawing Date:Fri, Jul 19, 2024
Jackpot:$251,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,777,910$1,356,015$0$2,421,896
2$3,966,806$1,425,906$0$2,540,900
3$4,165,146$1,499,292$0$2,665,854
4$4,373,403$1,576,347$0$2,797,056
5$4,592,073$1,657,255$0$2,934,818
6$4,821,677$1,742,208$0$3,079,469
7$5,062,761$1,831,409$0$3,231,352
8$5,315,899$1,925,070$0$3,390,829
9$5,581,694$2,023,415$0$3,558,280
10$5,860,779$2,126,676$0$3,734,103
11$6,153,818$2,235,100$0$3,918,717
12$6,461,509$2,348,946$0$4,112,563
13$6,784,584$2,468,484$0$4,316,100
14$7,123,813$2,593,999$0$4,529,815
15$7,480,004$2,725,789$0$4,754,215
16$7,854,004$2,864,169$0$4,989,835
17$8,246,704$3,009,468$0$5,237,236
18$8,659,039$3,162,032$0$5,497,007
19$9,091,991$3,322,225$0$5,769,767
20$9,546,591$3,490,426$0$6,056,165
21$10,023,920$3,667,038$0$6,356,882
22$10,525,116$3,852,481$0$6,672,636
23$11,051,372$4,047,196$0$7,004,177
24$11,603,941$4,251,646$0$7,352,295
25$12,184,138$4,466,319$0$7,717,819
26$12,793,345$4,691,725$0$8,101,620
27$13,433,012$4,928,402$0$8,504,610
28$14,104,663$5,176,913$0$8,927,750
29$14,809,896$5,437,849$0$9,372,047
30$15,550,391$5,711,832$0$9,838,558
Total$251,000,001$91,615,632$0$159,384,371

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.