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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jul 25, 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 $820,000,000 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 25, 2023
Jackpot:$820,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,342,177$4,524,793$493,687$7,323,697
2$12,959,286$4,753,123$518,371$7,687,791
3$13,607,250$4,992,870$544,290$8,070,090
4$14,287,613$5,244,604$571,505$8,471,504
5$15,001,993$5,508,925$600,080$8,892,988
6$15,752,093$5,786,462$630,084$9,335,547
7$16,539,698$6,077,876$661,588$9,800,234
8$17,366,682$6,383,860$694,667$10,288,155
9$18,235,017$6,705,144$729,401$10,800,472
10$19,146,767$7,042,492$765,871$11,338,405
11$20,104,106$7,396,707$804,164$11,903,235
12$21,109,311$7,768,633$844,372$12,496,306
13$22,164,776$8,159,155$886,591$13,119,030
14$23,273,015$8,569,203$930,921$13,772,891
15$24,436,666$8,999,754$977,467$14,459,445
16$25,658,499$9,451,833$1,026,340$15,180,327
17$26,941,424$9,926,515$1,077,657$15,937,252
18$28,288,495$10,424,931$1,131,540$16,732,024
19$29,702,920$10,948,268$1,188,117$17,566,535
20$31,188,066$11,497,772$1,247,523$18,442,771
21$32,747,469$12,074,751$1,309,899$19,362,819
22$34,384,843$12,680,580$1,375,394$20,328,869
23$36,104,085$13,316,699$1,444,163$21,343,222
24$37,909,289$13,984,625$1,516,372$22,408,293
25$39,804,753$14,685,946$1,592,190$23,526,617
26$41,794,992$15,422,335$1,671,800$24,700,857
27$43,884,741$16,195,542$1,755,390$25,933,810
28$46,078,978$17,007,409$1,843,159$27,228,409
29$48,382,927$17,859,871$1,935,317$28,587,739
30$50,802,073$18,754,955$2,032,083$30,015,036
Total$820,000,002$302,145,633$32,800,003$485,054,370

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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.