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Illinois Mega Millions Jackpot Annuity Payout Schedule for Jan 19, 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 $850,000,000 for a ticket purchased in Illinois, 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:

Illinois

Drawing Date:Tue, Jan 19, 2021
Jackpot:$850,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,793,720$4,697,749$633,289$7,462,682
2$13,433,406$4,934,432$664,954$7,834,020
3$14,105,076$5,182,950$698,201$8,223,924
4$14,810,330$5,443,894$733,111$8,633,324
5$15,550,846$5,717,885$769,767$9,063,194
6$16,328,389$6,005,576$808,255$9,514,557
7$17,144,809$6,307,651$848,668$9,988,489
8$18,002,049$6,624,830$891,101$10,486,117
9$18,902,151$6,957,868$935,656$11,008,627
10$19,847,259$7,307,558$982,439$11,557,261
11$20,839,622$7,674,732$1,031,561$12,133,328
12$21,881,603$8,060,265$1,083,139$12,738,198
13$22,975,683$8,465,075$1,137,296$13,373,312
14$24,124,467$8,890,125$1,194,161$14,040,181
15$25,330,690$9,336,428$1,253,869$14,740,393
16$26,597,225$9,805,046$1,316,563$15,475,617
17$27,927,086$10,297,094$1,382,391$16,247,601
18$29,323,440$10,813,745$1,451,510$17,058,185
19$30,789,612$11,356,229$1,524,086$17,909,298
20$32,329,093$11,925,837$1,600,290$18,802,966
21$33,945,547$12,523,925$1,680,305$19,741,318
22$35,642,825$13,151,917$1,764,320$20,726,588
23$37,424,966$13,811,310$1,852,536$21,761,121
24$39,296,214$14,503,671$1,945,163$22,847,380
25$41,261,025$15,230,651$2,042,421$23,987,953
26$43,324,077$15,993,981$2,144,542$25,185,554
27$45,490,280$16,795,476$2,251,769$26,443,036
28$47,764,794$17,637,046$2,364,357$27,763,391
29$50,153,034$18,520,695$2,482,575$29,149,764
30$52,660,686$19,448,526$2,606,704$30,605,456
Total$850,000,002$313,422,167$42,074,999$494,502,835

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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.