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California Mega Millions Jackpot Annuity Payout Schedule for Aug 13, 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 $435,000,000 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, Aug 13, 2024
Jackpot:$435,000,000
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$6,547,374$2,380,716$0$4,166,658
2$6,874,743$2,501,843$0$4,372,900
3$7,218,480$2,629,025$0$4,589,455
4$7,579,404$2,762,567$0$4,816,837
5$7,958,374$2,902,786$0$5,055,588
6$8,356,293$3,050,016$0$5,306,277
7$8,774,108$3,204,608$0$5,569,500
8$9,212,813$3,366,929$0$5,845,885
9$9,673,454$3,537,366$0$6,136,088
10$10,157,126$3,716,325$0$6,440,802
11$10,664,983$3,904,231$0$6,760,751
12$11,198,232$4,101,534$0$7,096,698
13$11,758,144$4,308,701$0$7,449,443
14$12,346,051$4,526,227$0$7,819,824
15$12,963,353$4,754,628$0$8,208,725
16$13,611,521$4,994,451$0$8,617,071
17$14,292,097$5,246,264$0$9,045,833
18$15,006,702$5,510,667$0$9,496,034
19$15,757,037$5,788,291$0$9,968,745
20$16,544,889$6,079,797$0$10,465,092
21$17,372,133$6,385,877$0$10,986,256
22$18,240,740$6,707,261$0$11,533,478
23$19,152,777$7,044,715$0$12,108,062
24$20,110,415$7,399,041$0$12,711,374
25$21,115,936$7,771,084$0$13,344,852
26$22,171,733$8,161,729$0$14,010,004
27$23,280,320$8,571,906$0$14,708,414
28$24,444,336$9,002,592$0$15,441,744
29$25,666,553$9,454,812$0$16,211,740
30$26,949,880$9,929,643$0$17,020,237
Total$435,000,001$159,695,632$0$275,304,367

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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.