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Florida Mega Millions Jackpot Annuity Payout Schedule for Sep 9, 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 $210,000,000 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, Sep 9, 2022
Jackpot:$210,000,000
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$3,160,801$1,127,684$0$2,033,117
2$3,318,841$1,186,159$0$2,132,682
3$3,484,783$1,247,558$0$2,237,226
4$3,659,023$1,312,026$0$2,346,997
5$3,841,974$1,379,718$0$2,462,256
6$4,034,072$1,450,795$0$2,583,278
7$4,235,776$1,525,425$0$2,710,351
8$4,447,565$1,603,787$0$2,843,778
9$4,669,943$1,686,067$0$2,983,876
10$4,903,440$1,772,461$0$3,130,980
11$5,148,612$1,863,174$0$3,285,438
12$5,406,043$1,958,424$0$3,447,619
13$5,676,345$2,058,435$0$3,617,910
14$5,960,162$2,163,448$0$3,796,715
15$6,258,171$2,273,711$0$3,984,460
16$6,571,079$2,389,487$0$4,181,592
17$6,899,633$2,511,052$0$4,388,581
18$7,244,615$2,638,695$0$4,605,919
19$7,606,845$2,772,721$0$4,834,125
20$7,987,188$2,913,447$0$5,073,740
21$8,386,547$3,061,210$0$5,325,337
22$8,805,874$3,216,361$0$5,589,513
23$9,246,168$3,379,270$0$5,866,898
24$9,708,476$3,550,324$0$6,158,152
25$10,193,900$3,729,931$0$6,463,969
26$10,703,595$3,918,518$0$6,785,077
27$11,238,775$4,116,535$0$7,122,241
28$11,800,714$4,324,452$0$7,476,262
29$12,390,749$4,542,765$0$7,847,984
30$13,010,287$4,771,994$0$8,238,293
Total$210,000,000$76,445,634$0$133,554,366

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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.