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California Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2023

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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 $315,000,000 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:Tue, Oct 3, 2023
Jackpot:$315,000,000
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$4,741,202$1,712,432$0$3,028,770
2$4,978,262$1,800,145$0$3,178,117
3$5,227,175$1,892,243$0$3,334,933
4$5,488,534$1,988,945$0$3,499,589
5$5,762,961$2,090,483$0$3,672,477
6$6,051,109$2,197,098$0$3,854,011
7$6,353,664$2,309,044$0$4,044,621
8$6,671,348$2,426,586$0$4,244,761
9$7,004,915$2,550,006$0$4,454,909
10$7,355,161$2,679,597$0$4,675,563
11$7,722,919$2,815,668$0$4,907,251
12$8,109,065$2,958,542$0$5,150,523
13$8,514,518$3,108,559$0$5,405,958
14$8,940,244$3,266,078$0$5,674,166
15$9,387,256$3,431,472$0$5,955,783
16$9,856,619$3,605,137$0$6,251,482
17$10,349,449$3,787,484$0$6,561,965
18$10,866,922$3,978,949$0$6,887,973
19$11,410,268$4,179,987$0$7,230,281
20$11,980,782$4,391,077$0$7,589,705
21$12,579,820$4,612,721$0$7,967,099
22$13,208,812$4,845,448$0$8,363,364
23$13,869,252$5,089,811$0$8,779,441
24$14,562,715$5,346,392$0$9,216,322
25$15,290,850$5,615,802$0$9,675,048
26$16,055,393$5,898,683$0$10,156,710
27$16,858,163$6,195,708$0$10,662,455
28$17,701,071$6,507,584$0$11,193,487
29$18,586,124$6,835,054$0$11,751,071
30$19,515,431$7,178,897$0$12,336,534
Total$315,000,001$115,295,632$0$199,704,369

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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.