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Illinois Mega Millions Jackpot Annuity Payout Schedule for Jan 10, 2023

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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 $1,100,000,000 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, Jan 10, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,082,954$819,551$9,654,074
2$17,384,408$6,389,251$860,528$10,134,628
3$18,253,628$6,710,862$903,555$10,639,211
4$19,166,310$7,048,555$948,732$11,169,023
5$20,124,624$7,403,131$996,169$11,725,324
6$21,130,856$7,775,437$1,045,977$12,309,442
7$22,187,399$8,166,358$1,098,276$12,922,765
8$23,296,769$8,576,825$1,153,190$13,566,754
9$24,461,608$9,007,815$1,210,850$14,242,943
10$25,684,688$9,460,355$1,271,392$14,952,941
11$26,968,922$9,935,521$1,334,962$15,698,439
12$28,317,368$10,434,446$1,401,710$16,481,212
13$29,733,237$10,958,318$1,471,795$17,303,124
14$31,219,899$11,508,383$1,545,385$18,166,131
15$32,780,893$12,085,951$1,622,654$19,072,288
16$34,419,938$12,692,397$1,703,787$20,023,754
17$36,140,935$13,329,166$1,788,976$21,022,792
18$37,947,982$13,997,773$1,878,425$22,071,783
19$39,845,380$14,699,811$1,972,346$23,173,223
20$41,837,650$15,436,951$2,070,964$24,329,735
21$43,929,532$16,210,947$2,174,512$25,544,073
22$46,126,009$17,023,643$2,283,237$26,819,128
23$48,432,309$17,876,975$2,397,399$28,157,935
24$50,853,924$18,772,972$2,517,269$29,563,683
25$53,396,620$19,713,770$2,643,133$31,039,718
26$56,066,452$20,701,608$2,775,289$32,589,555
27$58,869,775$21,738,837$2,914,054$34,216,884
28$61,813,263$22,827,927$3,059,756$35,925,579
29$64,903,926$23,971,473$3,212,744$37,719,709
30$68,149,123$25,172,196$3,373,382$39,603,546
Total$1,100,000,002$405,710,608$54,449,999$639,839,396

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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.