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Illinois Mega Millions Jackpot Annuity Payout Schedule for Dec 20, 2022

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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 $465,000,000 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 20, 2022
Jackpot:$465,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,998,917$2,546,620$346,446$4,105,851
2$7,348,863$2,676,100$363,769$4,308,995
3$7,716,306$2,812,054$381,957$4,522,296
4$8,102,122$2,954,805$401,055$4,746,261
5$8,507,228$3,104,694$421,108$4,981,425
6$8,932,589$3,262,078$442,163$5,228,348
7$9,379,219$3,427,331$464,271$5,487,616
8$9,848,180$3,600,847$487,485$5,759,848
9$10,340,589$3,783,038$511,859$6,045,691
10$10,857,618$3,974,339$537,452$6,345,827
11$11,400,499$4,175,205$564,325$6,660,969
12$11,970,524$4,386,114$592,541$6,991,869
13$12,569,050$4,607,569$622,168$7,339,313
14$13,197,503$4,840,096$653,276$7,704,130
15$13,857,378$5,084,250$685,940$8,087,187
16$14,550,247$5,340,612$720,237$8,489,398
17$15,277,759$5,609,791$756,249$8,911,719
18$16,041,647$5,892,430$794,062$9,355,156
19$16,843,729$6,189,200$833,765$9,820,764
20$17,685,916$6,500,809$875,453$10,309,654
21$18,570,211$6,827,998$919,225$10,822,987
22$19,498,722$7,171,547$965,187$11,361,988
23$20,473,658$7,532,274$1,013,446$11,927,938
24$21,497,341$7,911,036$1,064,118$12,522,186
25$22,572,208$8,308,737$1,117,324$13,146,146
26$23,700,818$8,726,323$1,173,191$13,801,305
27$24,885,859$9,164,788$1,231,850$14,489,221
28$26,130,152$9,625,176$1,293,443$15,211,533
29$27,436,660$10,108,584$1,358,115$15,969,961
30$28,808,493$10,616,163$1,426,020$16,766,310
Total$465,000,001$170,760,608$23,017,500$271,221,892

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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.