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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Feb 27, 2024

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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 $563,000,000 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, Feb 27, 2024
Jackpot:$563,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,473,958$3,093,552$338,958$5,041,447
2$8,897,656$3,250,320$355,906$5,291,429
3$9,342,539$3,414,927$373,702$5,553,910
4$9,809,666$3,587,764$392,387$5,829,515
5$10,300,149$3,769,243$412,006$6,118,900
6$10,815,156$3,959,796$432,606$6,422,754
7$11,355,914$4,159,876$454,237$6,741,802
8$11,923,710$4,369,960$476,948$7,076,801
9$12,519,895$4,590,549$500,796$7,428,551
10$13,145,890$4,822,167$525,836$7,797,887
11$13,803,185$5,065,366$552,127$8,185,691
12$14,493,344$5,320,725$579,734$8,592,885
13$15,218,011$5,588,852$608,720$9,020,439
14$15,978,912$5,870,385$639,156$9,469,370
15$16,777,857$6,165,995$671,114$9,940,748
16$17,616,750$6,476,385$704,670$10,435,695
17$18,497,587$6,802,295$739,903$10,955,389
18$19,422,467$7,144,501$776,899$11,501,068
19$20,393,590$7,503,816$815,744$12,074,030
20$21,413,270$7,881,098$856,531$12,675,641
21$22,483,933$8,277,243$899,357$13,307,333
22$23,608,130$8,693,196$944,325$13,970,609
23$24,788,536$9,129,946$991,541$14,667,049
24$26,027,963$9,588,534$1,041,119$15,398,310
25$27,329,361$10,070,051$1,093,174$16,166,135
26$28,695,830$10,575,645$1,147,833$16,972,352
27$30,130,621$11,106,518$1,205,225$17,818,879
28$31,637,152$11,663,934$1,265,486$18,707,732
29$33,219,009$12,249,221$1,328,760$19,641,028
30$34,879,960$12,863,773$1,395,198$20,620,989
Total$563,000,001$207,055,633$22,519,998$333,424,368

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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.