USA Mega

Kentucky Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$21,674$360,155
2$568,944$169,505$22,758$376,681
3$597,391$179,462$23,896$394,034
4$627,261$190,274$25,090$411,896
5$658,624$201,879$26,345$430,400
6$691,555$214,063$27,662$449,830
7$726,133$226,857$29,045$470,231
8$762,440$240,290$30,498$491,652
9$800,562$254,396$32,022$514,144
10$840,590$269,206$33,624$537,760
11$882,619$284,757$35,305$562,558
12$926,750$301,085$37,070$588,595
13$973,088$318,230$38,924$615,934
14$1,021,742$336,232$40,870$644,640
15$1,072,829$355,135$42,913$674,781
16$1,126,471$374,982$45,059$706,430
17$1,182,794$395,822$47,312$739,661
18$1,241,934$417,703$49,677$774,553
19$1,304,031$440,679$52,161$811,190
20$1,369,232$464,804$54,769$849,659
21$1,437,694$490,134$57,508$890,052
22$1,509,578$516,732$60,383$932,464
23$1,585,057$544,659$63,402$976,996
24$1,664,310$573,983$66,572$1,023,755
25$1,747,526$604,772$69,901$1,072,852
26$1,834,902$637,102$73,396$1,124,404
27$1,926,647$671,047$77,066$1,178,534
28$2,022,980$706,690$80,919$1,235,370
29$2,124,128$744,115$84,965$1,295,048
30$2,230,335$783,412$89,213$1,357,710
Total$36,000,000$12,068,030$1,439,999$22,491,969

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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.