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California Mega Millions Jackpot Annuity Payout Schedule for Sep 26, 2014

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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 $93,000,000 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, Sep 26, 2014
Jackpot:$93,000,000
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$1,399,783$476,108$0$923,676
2$1,469,773$502,004$0$967,769
3$1,543,261$529,194$0$1,014,067
4$1,620,424$557,745$0$1,062,680
5$1,701,446$587,723$0$1,113,723
6$1,786,518$619,199$0$1,167,318
7$1,875,844$652,250$0$1,223,594
8$1,969,636$686,953$0$1,282,683
9$2,068,118$723,391$0$1,344,726
10$2,171,524$761,651$0$1,409,872
11$2,280,100$801,825$0$1,478,275
12$2,394,105$844,007$0$1,550,098
13$2,513,810$888,297$0$1,625,513
14$2,639,501$934,803$0$1,704,698
15$2,771,476$983,634$0$1,787,842
16$2,910,049$1,034,906$0$1,875,143
17$3,055,552$1,088,742$0$1,966,810
18$3,208,329$1,145,270$0$2,063,060
19$3,368,746$1,204,624$0$2,164,122
20$3,537,183$1,266,946$0$2,270,238
21$3,714,042$1,332,383$0$2,381,659
22$3,899,744$1,401,093$0$2,498,651
23$4,094,732$1,473,238$0$2,621,493
24$4,299,468$1,548,991$0$2,750,477
25$4,514,442$1,628,531$0$2,885,910
26$4,740,164$1,712,048$0$3,028,115
27$4,977,172$1,799,741$0$3,177,431
28$5,226,030$1,891,819$0$3,334,211
29$5,487,332$1,988,501$0$3,498,831
30$5,761,699$2,090,016$0$3,671,682
Total$93,000,000$33,155,633$0$59,844,367

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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.