USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 2023

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 $720,000,000 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, Jul 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$433,481$6,435,662
2$11,378,885$4,168,375$455,155$6,755,354
3$11,947,829$4,378,884$477,913$7,091,031
4$12,545,221$4,599,920$501,809$7,443,493
5$13,172,481$4,832,006$526,899$7,813,576
6$13,831,106$5,075,697$553,244$8,202,165
7$14,522,661$5,331,572$580,906$8,610,182
8$15,248,794$5,600,242$609,952$9,038,601
9$16,011,234$5,882,344$640,449$9,488,440
10$16,811,796$6,178,552$672,472$9,960,772
11$17,652,385$6,489,570$706,095$10,456,720
12$18,535,005$6,816,139$741,400$10,977,465
13$19,461,755$7,159,037$778,470$11,524,248
14$20,434,843$7,519,080$817,394$12,098,369
15$21,456,585$7,897,124$858,263$12,701,197
16$22,529,414$8,294,071$901,177$13,334,167
17$23,655,884$8,710,865$946,235$13,998,784
18$24,838,679$9,148,499$993,547$14,696,633
19$26,080,613$9,608,014$1,043,225$15,429,374
20$27,384,643$10,090,506$1,095,386$16,198,752
21$28,753,875$10,597,122$1,150,155$17,006,599
22$30,191,569$11,129,068$1,207,663$17,854,838
23$31,701,148$11,687,612$1,268,046$18,745,489
24$33,286,205$12,274,084$1,331,448$19,680,673
25$34,950,515$12,889,878$1,398,021$20,662,616
26$36,698,041$13,536,463$1,467,922$21,693,657
27$38,532,943$14,215,377$1,541,318$22,776,249
28$40,459,590$14,928,236$1,618,384$23,912,970
29$42,482,570$15,676,739$1,699,303$25,106,528
30$44,606,699$16,462,666$1,784,268$26,359,764
Total$720,000,001$265,145,632$28,800,000$426,054,368

◄ 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.