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Florida Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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The tax information provided here is based on 2021 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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
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$2,107,201$743,737$0$1,363,464
2$2,212,561$782,720$0$1,429,841
3$2,323,189$823,652$0$1,499,537
4$2,439,349$866,631$0$1,572,717
5$2,561,316$911,759$0$1,649,557
6$2,689,382$959,143$0$1,730,238
7$2,823,851$1,008,897$0$1,814,954
8$2,965,043$1,061,138$0$1,903,905
9$3,113,296$1,115,992$0$1,997,304
10$3,268,960$1,173,588$0$2,095,373
11$3,432,408$1,234,063$0$2,198,345
12$3,604,029$1,297,563$0$2,306,466
13$3,784,230$1,364,237$0$2,419,993
14$3,973,442$1,434,246$0$2,539,196
15$4,172,114$1,507,754$0$2,664,359
16$4,380,719$1,584,938$0$2,795,781
17$4,599,755$1,665,982$0$2,933,774
18$4,829,743$1,751,077$0$3,078,666
19$5,071,230$1,840,427$0$3,230,803
20$5,324,792$1,934,245$0$3,390,547
21$5,591,031$2,032,754$0$3,558,277
22$5,870,583$2,136,188$0$3,734,395
23$6,164,112$2,244,794$0$3,919,318
24$6,472,318$2,358,830$0$4,113,488
25$6,795,933$2,478,568$0$4,317,366
26$7,135,730$2,604,292$0$4,531,438
27$7,492,517$2,736,303$0$4,756,213
28$7,867,143$2,874,915$0$4,992,228
29$8,260,500$3,020,457$0$5,240,043
30$8,673,525$3,173,276$0$5,500,248
Total$140,000,000$50,722,166$0$89,277,834

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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.