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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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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 $105,000,000 for a ticket purchased in Kentucky, 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:

Kentucky

Drawing Date:Tue, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$541,768$63,216$975,416
2$1,659,421$571,006$66,377$1,022,038
3$1,742,392$601,705$69,696$1,070,991
4$1,829,511$633,939$73,180$1,122,391
5$1,920,987$667,785$76,839$1,176,362
6$2,017,036$703,324$80,681$1,233,031
7$2,117,888$740,639$84,716$1,292,534
8$2,223,783$779,820$88,951$1,355,011
9$2,334,972$820,960$93,399$1,420,613
10$2,451,720$864,157$98,069$1,489,495
11$2,574,306$909,514$102,972$1,561,820
12$2,703,022$957,138$108,121$1,637,762
13$2,838,173$1,007,144$113,527$1,717,502
14$2,980,081$1,059,650$119,203$1,801,228
15$3,129,085$1,114,782$125,163$1,889,140
16$3,285,540$1,172,670$131,422$1,981,448
17$3,449,816$1,233,452$137,993$2,078,371
18$3,622,307$1,297,274$144,892$2,180,141
19$3,803,423$1,364,287$152,137$2,286,999
20$3,993,594$1,434,650$159,744$2,399,200
21$4,193,273$1,508,531$167,731$2,517,011
22$4,402,937$1,586,107$176,117$2,640,713
23$4,623,084$1,667,561$184,923$2,770,599
24$4,854,238$1,753,088$194,170$2,906,980
25$5,096,950$1,842,892$203,878$3,050,180
26$5,351,798$1,937,185$214,072$3,200,540
27$5,619,388$2,036,194$224,776$3,358,418
28$5,900,357$2,140,152$236,014$3,524,190
29$6,195,375$2,249,309$247,815$3,698,251
30$6,505,144$2,363,923$260,206$3,881,014
Total$105,000,000$37,560,606$4,200,000$63,239,389

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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.