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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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The tax information provided here is based on 2022 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 $120,000,000 for a ticket purchased in Massachusetts, 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 prize money, as well as deductions claimed.

State:

Massachusetts

Drawing Date:Fri, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$162,555$1,012,378
2$1,896,481$664,653$170,683$1,061,145
3$1,991,305$699,738$179,217$1,112,350
4$2,090,870$736,577$188,178$1,166,115
5$2,195,414$775,258$197,587$1,222,568
6$2,305,184$815,873$207,467$1,281,845
7$2,420,444$858,519$217,840$1,344,085
8$2,541,466$903,297$228,732$1,409,436
9$2,668,539$950,314$240,169$1,478,056
10$2,801,966$999,682$252,177$1,550,107
11$2,942,064$1,051,519$264,786$1,625,760
12$3,089,167$1,105,947$278,025$1,705,195
13$3,243,626$1,163,097$291,926$1,788,603
14$3,405,807$1,223,104$306,523$1,876,181
15$3,576,097$1,286,111$321,849$1,968,138
16$3,754,902$1,352,269$337,941$2,064,692
17$3,942,647$1,421,735$354,838$2,166,075
18$4,139,780$1,494,674$372,580$2,272,526
19$4,346,769$1,571,259$391,209$2,384,300
20$4,564,107$1,651,675$410,770$2,501,663
21$4,792,313$1,736,111$431,308$2,624,894
22$5,031,928$1,824,768$452,874$2,754,286
23$5,283,525$1,917,859$475,517$2,890,148
24$5,547,701$2,015,604$499,293$3,032,803
25$5,825,086$2,118,237$524,258$3,182,591
26$6,116,340$2,226,001$550,471$3,339,869
27$6,422,157$2,339,153$577,994$3,505,010
28$6,743,265$2,457,963$606,894$3,678,408
29$7,080,428$2,582,713$637,239$3,860,476
30$7,434,450$2,713,701$669,100$4,051,648
Total$120,000,000$43,288,650$10,800,000$65,911,351

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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.