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Illinois Mega Millions Jackpot Annuity Payout Schedule for Jan 28, 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 $426,000,000 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, Jan 28, 2022
Jackpot:$426,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,411,911$2,330,595$317,390$3,763,927
2$6,732,507$2,449,215$333,259$3,950,033
3$7,069,132$2,573,767$349,922$4,145,443
4$7,422,589$2,704,546$367,418$4,350,625
5$7,793,718$2,841,863$385,789$4,566,066
6$8,183,404$2,986,047$405,079$4,792,278
7$8,592,575$3,137,440$425,332$5,029,802
8$9,022,203$3,296,403$446,599$5,279,201
9$9,473,313$3,463,314$468,929$5,541,071
10$9,946,979$3,638,570$492,375$5,816,034
11$10,444,328$3,822,589$516,994$6,104,745
12$10,966,544$4,015,809$542,844$6,407,891
13$11,514,872$4,218,690$569,986$6,726,195
14$12,090,615$4,431,715$598,485$7,060,414
15$12,695,146$4,655,392$628,410$7,411,344
16$13,329,903$4,890,252$659,830$7,779,821
17$13,996,398$5,136,855$692,822$8,166,721
18$14,696,218$5,395,789$727,463$8,572,967
19$15,431,029$5,667,669$763,836$8,999,525
20$16,202,581$5,953,143$802,028$9,447,410
21$17,012,710$6,252,890$842,129$9,917,690
22$17,863,345$6,567,625$884,236$10,411,484
23$18,756,512$6,898,097$928,447$10,929,968
24$19,694,338$7,245,093$974,870$11,474,375
25$20,679,055$7,609,438$1,023,613$12,046,004
26$21,713,008$7,992,001$1,074,794$12,646,213
27$22,798,658$8,393,691$1,128,534$13,276,433
28$23,938,591$8,815,466$1,184,960$13,938,164
29$25,135,520$9,258,330$1,244,208$14,632,982
30$26,392,297$9,723,338$1,306,419$15,362,540
Total$426,000,001$156,365,632$21,087,000$248,547,366

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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.