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Illinois Mega Millions Jackpot Annuity Payout Schedule for Nov 22, 2022

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The tax information provided here is based on 2022 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 $259,000,000 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, Nov 22, 2022
Jackpot:$259,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,898,322$1,405,334$192,967$2,300,021
2$4,093,238$1,477,453$202,615$2,413,170
3$4,297,900$1,553,178$212,746$2,531,976
4$4,512,795$1,632,689$223,383$2,656,722
5$4,738,434$1,716,176$234,552$2,787,706
6$4,975,356$1,803,837$246,280$2,925,239
7$5,224,124$1,895,881$258,594$3,069,649
8$5,485,330$1,992,527$271,524$3,221,279
9$5,759,597$2,094,006$285,100$3,380,491
10$6,047,576$2,200,558$299,355$3,547,663
11$6,349,955$2,312,438$314,323$3,723,194
12$6,667,453$2,429,913$330,039$3,907,502
13$7,000,826$2,553,261$346,541$4,101,024
14$7,350,867$2,682,776$363,868$4,304,223
15$7,718,410$2,818,767$382,061$4,517,582
16$8,104,331$2,961,557$401,164$4,741,609
17$8,509,547$3,111,488$421,223$4,976,837
18$8,935,025$3,268,914$442,284$5,223,827
19$9,381,776$3,434,212$464,398$5,483,166
20$9,850,865$3,607,775$487,618$5,755,472
21$10,343,408$3,790,016$511,999$6,041,393
22$10,860,578$3,981,369$537,599$6,341,611
23$11,403,607$4,182,290$564,479$6,656,839
24$11,973,788$4,393,256$592,702$6,987,829
25$12,572,477$4,614,771$622,338$7,335,368
26$13,201,101$4,847,362$653,455$7,700,284
27$13,861,156$5,091,583$686,127$8,083,446
28$14,554,214$5,348,014$720,434$8,485,766
29$15,281,924$5,617,267$756,455$8,908,202
30$16,046,021$5,899,983$794,278$9,351,760
Total$259,000,001$94,718,651$12,820,501$151,460,850

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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.