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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 2023

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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 $640,000,000 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, Jul 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,522,368$385,317$5,725,234
2$10,114,564$3,700,577$404,583$6,009,405
3$10,620,292$3,887,696$424,812$6,307,785
4$11,151,308$4,084,172$446,052$6,621,084
5$11,708,872$4,290,471$468,355$6,950,047
6$12,294,316$4,507,085$491,773$7,295,459
7$12,909,032$4,734,530$516,361$7,658,141
8$13,554,484$4,973,347$542,179$8,038,958
9$14,232,208$5,224,105$569,288$8,438,815
10$14,943,818$5,487,400$597,753$8,858,665
11$15,691,009$5,763,861$627,640$9,299,508
12$16,475,560$6,054,145$659,022$9,762,392
13$17,299,338$6,358,943$691,974$10,248,421
14$18,164,305$6,678,980$726,572$10,758,752
15$19,072,520$7,015,020$762,901$11,294,599
16$20,026,146$7,367,862$801,046$11,857,238
17$21,027,453$7,738,345$841,098$12,448,009
18$22,078,826$8,127,353$883,153$13,068,319
19$23,182,767$8,535,811$927,311$13,719,645
20$24,341,905$8,964,693$973,676$14,403,536
21$25,559,000$9,415,018$1,022,360$15,121,622
22$26,836,950$9,887,859$1,073,478$15,875,613
23$28,178,798$10,384,343$1,127,152$16,667,303
24$29,587,738$10,905,651$1,183,510$17,498,577
25$31,067,124$11,453,024$1,242,685$18,371,416
26$32,620,481$12,027,766$1,304,819$19,287,896
27$34,251,505$12,631,245$1,370,060$20,250,200
28$35,964,080$13,264,897$1,438,563$21,260,619
29$37,762,284$13,930,233$1,510,491$22,321,560
30$39,650,399$14,628,835$1,586,016$23,435,547
Total$640,000,001$235,545,635$25,600,000$378,854,365

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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.