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Illinois Mega Millions Jackpot Annuity Payout Schedule for Dec 13, 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 $400,000,000 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:Tue, Dec 13, 2022
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$298,018$3,536,755
2$6,321,603$2,297,181$312,919$3,711,503
3$6,637,683$2,414,130$328,565$3,894,987
4$6,969,567$2,536,928$344,994$4,087,646
5$7,318,045$2,665,864$362,243$4,289,937
6$7,683,948$2,801,248$380,355$4,502,344
7$8,068,145$2,943,401$399,373$4,725,371
8$8,471,552$3,092,662$419,342$4,959,548
9$8,895,130$3,249,386$440,309$5,205,435
10$9,339,886$3,413,946$462,324$5,463,616
11$9,806,881$3,586,734$485,441$5,734,707
12$10,297,225$3,768,161$509,713$6,019,351
13$10,812,086$3,958,660$535,198$6,318,228
14$11,352,690$4,158,683$561,958$6,632,049
15$11,920,325$4,368,708$590,056$6,961,561
16$12,516,341$4,589,234$619,559$7,307,548
17$13,142,158$4,820,786$650,537$7,670,835
18$13,799,266$5,063,916$683,064$8,052,286
19$14,489,229$5,319,203$717,217$8,452,810
20$15,213,691$5,587,253$753,078$8,873,360
21$15,974,375$5,868,707$790,732$9,314,937
22$16,773,094$6,164,233$830,268$9,778,593
23$17,611,749$6,474,535$871,782$10,265,432
24$18,492,336$6,800,352$915,371$10,776,613
25$19,416,953$7,142,460$961,139$11,313,353
26$20,387,801$7,501,674$1,009,196$11,876,931
27$21,407,191$7,878,848$1,059,656$12,468,687
28$22,477,550$8,274,881$1,112,639$13,090,030
29$23,601,428$8,690,716$1,168,271$13,742,441
30$24,781,499$9,127,342$1,226,684$14,427,473
Total$400,000,001$146,745,632$19,800,001$233,454,367

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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.