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Florida Mega Millions Jackpot Annuity Payout Schedule for Jul 22, 2022

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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 $660,000,000 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 money, as well as deductions claimed.

State:

Florida

Drawing Date:Fri, Jul 22, 2022
Jackpot:$660,000,000
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$9,933,947$3,633,748$0$6,300,199
2$10,430,645$3,817,526$0$6,613,118
3$10,952,177$4,010,493$0$6,941,684
4$11,499,786$4,213,109$0$7,286,677
5$12,074,775$4,425,854$0$7,648,920
6$12,678,514$4,649,238$0$8,029,276
7$13,312,440$4,883,790$0$8,428,649
8$13,978,061$5,130,070$0$8,847,991
9$14,676,965$5,388,665$0$9,288,300
10$15,410,813$5,660,188$0$9,750,624
11$16,181,353$5,945,288$0$10,236,065
12$16,990,421$6,244,643$0$10,745,777
13$17,839,942$6,558,966$0$11,280,976
14$18,731,939$6,889,005$0$11,842,934
15$19,668,536$7,235,546$0$12,432,990
16$20,651,963$7,599,414$0$13,052,549
17$21,684,561$7,981,475$0$13,703,085
18$22,768,789$8,382,640$0$14,386,149
19$23,907,228$8,803,862$0$15,103,366
20$25,102,590$9,246,146$0$15,856,444
21$26,357,719$9,710,544$0$16,647,175
22$27,675,605$10,198,162$0$17,477,443
23$29,059,386$10,710,160$0$18,349,225
24$30,512,354$11,247,759$0$19,264,596
25$32,037,972$11,812,237$0$20,225,735
26$33,639,871$12,404,940$0$21,234,931
27$35,321,865$13,027,278$0$22,294,587
28$37,087,958$13,680,732$0$23,407,225
29$38,942,356$14,366,859$0$24,575,496
30$40,889,474$15,087,293$0$25,802,181
Total$660,000,001$242,945,630$0$417,054,367

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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.