USA Mega

Florida Mega Millions Jackpot Annuity Payout Schedule for Feb 10, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $50,000,000 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:Fri, Feb 10, 2023
Jackpot:$50,000,000
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$752,572$241,407$0$511,165
2$790,200$255,329$0$534,871
3$829,710$269,948$0$559,763
4$871,196$285,297$0$585,898
5$914,756$301,415$0$613,341
6$960,493$318,338$0$642,156
7$1,008,518$336,107$0$672,411
8$1,058,944$354,764$0$704,180
9$1,111,891$374,355$0$737,536
10$1,167,486$394,925$0$772,561
11$1,225,860$416,523$0$809,337
12$1,287,153$439,202$0$847,951
13$1,351,511$463,014$0$888,497
14$1,419,086$488,017$0$931,069
15$1,490,041$514,270$0$975,771
16$1,564,543$541,836$0$1,022,707
17$1,642,770$570,780$0$1,071,990
18$1,724,908$601,171$0$1,123,737
19$1,811,154$633,082$0$1,178,072
20$1,901,711$666,588$0$1,235,123
21$1,996,797$701,770$0$1,295,027
22$2,096,637$738,711$0$1,357,926
23$2,201,469$777,498$0$1,423,970
24$2,311,542$818,226$0$1,493,316
25$2,427,119$860,989$0$1,566,130
26$2,548,475$905,891$0$1,642,584
27$2,675,899$953,038$0$1,722,861
28$2,809,694$1,002,542$0$1,807,152
29$2,950,178$1,054,521$0$1,895,657
30$3,097,687$1,109,099$0$1,988,588
Total$50,000,000$17,388,653$0$32,611,347

◄ Back to Jackpot Analysis

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.