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Florida Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 2023

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The tax information provided here is based on 2022 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 $260,000,000 for a ticket purchased in Florida, 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 prize money, as well as deductions claimed.

State:

Florida

Drawing Date:Tue, Jun 13, 2023
Jackpot:$260,000,000
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$3,913,373$1,410,903$0$2,502,470
2$4,109,042$1,483,300$0$2,625,741
3$4,314,494$1,559,318$0$2,755,176
4$4,530,219$1,639,136$0$2,891,083
5$4,756,729$1,722,945$0$3,033,785
6$4,994,566$1,810,944$0$3,183,622
7$5,244,294$1,903,344$0$3,340,950
8$5,506,509$2,000,363$0$3,506,146
9$5,781,835$2,102,234$0$3,679,601
10$6,070,926$2,209,198$0$3,861,728
11$6,374,473$2,321,510$0$4,052,963
12$6,693,196$2,439,438$0$4,253,759
13$7,027,856$2,563,262$0$4,464,594
14$7,379,249$2,693,277$0$4,685,972
15$7,748,211$2,829,793$0$4,918,418
16$8,135,622$2,973,135$0$5,162,487
17$8,542,403$3,123,644$0$5,418,759
18$8,969,523$3,281,678$0$5,687,844
19$9,417,999$3,447,615$0$5,970,384
20$9,888,899$3,621,848$0$6,267,051
21$10,383,344$3,804,792$0$6,578,552
22$10,902,511$3,996,884$0$6,905,627
23$11,447,637$4,198,581$0$7,249,056
24$12,020,018$4,410,362$0$7,609,657
25$12,621,019$4,632,732$0$7,988,287
26$13,252,071$4,866,221$0$8,385,849
27$13,914,674$5,111,384$0$8,803,290
28$14,610,408$5,368,806$0$9,241,602
29$15,340,928$5,639,098$0$9,701,830
30$16,107,974$5,922,906$0$10,185,069
Total$260,000,001$95,088,651$0$164,911,352

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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.