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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 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 $510,000,000 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:Fri, Dec 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$307,049$4,570,789
2$8,060,044$2,940,404$322,402$4,797,238
3$8,463,046$3,089,515$338,522$5,035,009
4$8,886,198$3,246,081$355,448$5,284,669
5$9,330,508$3,410,476$373,220$5,546,812
6$9,797,033$3,583,090$391,881$5,822,062
7$10,286,885$3,764,335$411,475$6,111,074
8$10,801,229$3,954,643$432,049$6,414,538
9$11,341,291$4,154,465$453,652$6,733,174
10$11,908,355$4,364,279$476,334$7,067,742
11$12,503,773$4,584,584$500,151$7,419,038
12$13,128,962$4,815,904$525,158$7,787,900
13$13,785,410$5,058,789$551,416$8,175,204
14$14,474,680$5,313,819$578,987$8,581,874
15$15,198,414$5,581,601$607,937$9,008,877
16$15,958,335$5,862,772$638,333$9,457,230
17$16,756,251$6,158,001$670,250$9,928,001
18$17,594,064$6,467,991$703,763$10,422,310
19$18,473,767$6,793,482$738,951$10,941,335
20$19,397,456$7,135,246$775,898$11,486,311
21$20,367,328$7,494,099$814,693$12,058,536
22$21,385,695$7,870,895$855,428$12,659,372
23$22,454,980$8,266,530$898,199$13,290,250
24$23,577,728$8,681,947$943,109$13,952,672
25$24,756,615$9,118,135$990,265$14,648,215
26$25,994,446$9,576,133$1,039,778$15,378,535
27$27,294,168$10,057,030$1,091,767$16,145,372
28$28,658,876$10,561,972$1,146,355$16,950,549
29$30,091,820$11,092,161$1,203,673$17,795,986
30$31,596,411$11,648,860$1,263,856$18,683,695
Total$510,000,001$187,445,633$20,399,999$302,154,369

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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.