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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

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The tax information provided here is based on 2025 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 $525,000,000 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, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,880,761$316,080$4,705,162
2$8,297,104$3,026,949$331,884$4,938,271
3$8,711,959$3,180,445$348,478$5,183,035
4$9,147,557$3,341,616$365,902$5,440,038
5$9,604,934$3,510,846$384,197$5,709,891
6$10,085,181$3,688,537$403,407$5,993,237
7$10,589,441$3,875,113$423,578$6,290,750
8$11,118,913$4,071,018$444,757$6,603,138
9$11,674,858$4,276,718$466,994$6,931,146
10$12,258,601$4,492,703$490,344$7,275,554
11$12,871,531$4,719,487$514,861$7,637,183
12$13,515,108$4,957,610$540,604$8,016,893
13$14,190,863$5,207,640$567,635$8,415,589
14$14,900,406$5,470,171$596,016$8,834,219
15$15,645,426$5,745,828$625,817$9,273,781
16$16,427,698$6,035,268$657,108$9,735,321
17$17,249,082$6,339,181$689,963$10,219,938
18$18,111,537$6,658,289$724,461$10,728,786
19$19,017,113$6,993,352$760,685$11,263,077
20$19,967,969$7,345,169$798,719$11,824,082
21$20,966,367$7,714,576$838,655$12,413,137
22$22,014,686$8,102,454$880,587$13,031,644
23$23,115,420$8,509,726$924,617$13,681,078
24$24,271,191$8,937,361$970,848$14,362,982
25$25,484,751$9,386,378$1,019,390$15,078,983
26$26,758,989$9,857,846$1,070,360$15,830,783
27$28,096,938$10,352,887$1,123,878$16,620,173
28$29,501,784$10,872,680$1,180,071$17,449,033
29$30,976,874$11,418,464$1,239,075$18,319,335
30$32,525,718$11,991,536$1,301,029$19,233,153
Total$525,000,001$192,960,609$21,000,000$311,039,392

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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.