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Illinois Mega Millions Jackpot Annuity Payout Schedule for Sep 26, 2014

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The tax information provided here is based on 2025 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 $93,000,000 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 money, as well as deductions claimed.

State:

Illinois

Drawing Date:Fri, Sep 26, 2014
Jackpot:$93,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,399,783$474,940$69,289$855,554
2$1,469,773$500,836$72,754$896,183
3$1,543,261$528,027$76,391$938,843
4$1,620,424$556,577$80,211$983,636
5$1,701,446$586,555$84,222$1,030,669
6$1,786,518$618,032$88,433$1,080,053
7$1,875,844$651,082$92,854$1,131,907
8$1,969,636$685,786$97,497$1,186,353
9$2,068,118$722,224$102,372$1,243,522
10$2,171,524$760,484$107,490$1,303,549
11$2,280,100$800,657$112,865$1,366,578
12$2,394,105$842,839$118,508$1,432,758
13$2,513,810$887,130$124,434$1,502,246
14$2,639,501$933,635$130,655$1,575,210
15$2,771,476$982,466$137,188$1,651,821
16$2,910,049$1,033,739$144,047$1,732,263
17$3,055,552$1,087,574$151,250$1,816,728
18$3,208,329$1,144,102$158,812$1,905,415
19$3,368,746$1,203,456$166,753$1,998,537
20$3,537,183$1,265,778$175,091$2,096,315
21$3,714,042$1,331,216$183,845$2,198,981
22$3,899,744$1,399,926$193,037$2,306,781
23$4,094,732$1,472,071$202,689$2,419,971
24$4,299,468$1,547,823$212,824$2,538,821
25$4,514,442$1,627,364$223,465$2,663,613
26$4,740,164$1,710,881$234,638$2,794,645
27$4,977,172$1,798,574$246,370$2,932,228
28$5,226,030$1,890,651$258,689$3,076,690
29$5,487,332$1,987,333$271,623$3,228,376
30$5,761,699$2,088,849$285,204$3,387,646
Total$93,000,000$33,120,607$4,603,500$55,275,892

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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.