USA Mega

Illinois Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $510,000,000 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, Dec 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$379,973$4,497,865
2$8,060,044$2,940,404$398,972$4,720,668
3$8,463,046$3,089,515$418,921$4,954,610
4$8,886,198$3,246,081$439,867$5,200,250
5$9,330,508$3,410,476$461,860$5,458,172
6$9,797,033$3,583,090$484,953$5,728,990
7$10,286,885$3,764,335$509,201$6,013,349
8$10,801,229$3,954,643$534,661$6,311,926
9$11,341,291$4,154,465$561,394$6,625,432
10$11,908,355$4,364,279$589,464$6,954,612
11$12,503,773$4,584,584$618,937$7,300,252
12$13,128,962$4,815,904$649,884$7,663,174
13$13,785,410$5,058,789$682,378$8,044,243
14$14,474,680$5,313,819$716,497$8,444,364
15$15,198,414$5,581,601$752,321$8,864,492
16$15,958,335$5,862,772$789,938$9,305,626
17$16,756,251$6,158,001$829,434$9,768,816
18$17,594,064$6,467,991$870,906$10,255,166
19$18,473,767$6,793,482$914,451$10,765,834
20$19,397,456$7,135,246$960,174$11,302,035
21$20,367,328$7,494,099$1,008,183$11,865,046
22$21,385,695$7,870,895$1,058,592$12,456,208
23$22,454,980$8,266,530$1,111,521$13,076,928
24$23,577,728$8,681,947$1,167,098$13,728,684
25$24,756,615$9,118,135$1,225,452$14,413,027
26$25,994,446$9,576,133$1,286,725$15,131,588
27$27,294,168$10,057,030$1,351,061$15,886,077
28$28,658,876$10,561,972$1,418,614$16,678,290
29$30,091,820$11,092,161$1,489,545$17,510,114
30$31,596,411$11,648,860$1,564,022$18,383,529
Total$510,000,001$187,445,633$25,244,999$297,309,367

◄ Back to Jackpot Analysis

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.