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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Sep 12, 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 $141,000,000 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, Sep 12, 2023
Jackpot:$141,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,122,252$743,421$84,890$1,293,941
2$2,228,365$782,683$89,135$1,356,548
3$2,339,783$823,908$93,591$1,422,284
4$2,456,772$867,194$98,271$1,491,308
5$2,579,611$912,644$103,184$1,563,783
6$2,708,592$960,367$108,344$1,639,881
7$2,844,021$1,010,476$113,761$1,719,785
8$2,986,222$1,063,090$119,449$1,803,683
9$3,135,533$1,118,335$125,421$1,891,777
10$3,292,310$1,176,342$131,692$1,984,275
11$3,456,925$1,237,250$138,277$2,081,398
12$3,629,772$1,301,203$145,191$2,183,378
13$3,811,260$1,368,354$152,450$2,290,456
14$4,001,823$1,438,862$160,073$2,402,888
15$4,201,914$1,512,896$168,077$2,520,942
16$4,412,010$1,590,632$176,480$2,644,898
17$4,632,611$1,672,254$185,304$2,775,053
18$4,864,241$1,757,957$194,570$2,911,715
19$5,107,453$1,847,945$204,298$3,055,210
20$5,362,826$1,942,433$214,513$3,205,880
21$5,630,967$2,041,646$225,239$3,364,083
22$5,912,516$2,145,819$236,501$3,530,196
23$6,208,141$2,255,200$248,326$3,704,616
24$6,518,548$2,370,051$260,742$3,887,756
25$6,844,476$2,490,644$273,779$4,080,053
26$7,186,700$2,617,267$287,468$4,281,965
27$7,546,035$2,750,221$301,841$4,493,973
28$7,923,336$2,889,822$316,933$4,716,581
29$8,319,503$3,036,404$332,780$4,950,319
30$8,735,478$3,190,315$349,419$5,195,745
Total$141,000,000$50,915,635$5,639,999$84,444,370

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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.