USA Mega

Florida Mega Millions Jackpot Annuity Payout Schedule for Jun 18, 2024

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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 $61,000,000 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:Tue, Jun 18, 2024
Jackpot:$61,000,000
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$918,138$297,899$0$620,239
2$964,044$314,884$0$649,160
3$1,012,247$332,719$0$679,528
4$1,062,859$351,446$0$711,413
5$1,116,002$371,108$0$744,893
6$1,171,802$391,754$0$780,048
7$1,230,392$413,433$0$816,959
8$1,291,912$436,195$0$855,717
9$1,356,507$460,095$0$896,412
10$1,424,333$485,191$0$939,142
11$1,495,549$511,541$0$984,008
12$1,570,327$539,209$0$1,031,118
13$1,648,843$568,260$0$1,080,583
14$1,731,285$598,763$0$1,132,522
15$1,817,850$630,792$0$1,187,057
16$1,908,742$664,422$0$1,244,320
17$2,004,179$699,734$0$1,304,445
18$2,104,388$736,811$0$1,367,577
19$2,209,607$775,743$0$1,433,865
20$2,320,088$816,620$0$1,503,468
21$2,436,092$859,542$0$1,576,550
22$2,557,897$904,610$0$1,653,287
23$2,685,792$951,931$0$1,733,861
24$2,820,081$1,001,618$0$1,818,463
25$2,961,085$1,053,789$0$1,907,296
26$3,109,140$1,108,569$0$2,000,570
27$3,264,597$1,166,088$0$2,098,508
28$3,427,826$1,226,484$0$2,201,343
29$3,599,218$1,289,898$0$2,309,319
30$3,779,179$1,356,484$0$2,422,695
Total$61,000,000$21,315,632$0$39,684,366

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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.