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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 2014

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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 $33,000,000 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 money, as well as deductions claimed.

State:

Massachusetts

Drawing Date:Fri, Sep 5, 2014
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$44,703$307,776
2$521,532$152,911$46,938$321,683
3$547,609$162,038$49,285$336,286
4$574,989$171,621$51,749$351,619
5$603,739$181,683$54,336$367,719
6$633,926$192,740$57,053$384,132
7$665,622$204,468$59,906$401,248
8$698,903$216,782$62,901$419,220
9$733,848$229,712$66,046$438,090
10$770,541$243,288$69,349$457,904
11$809,068$257,543$72,816$478,709
12$849,521$272,511$76,457$500,554
13$891,997$288,227$80,280$523,491
14$936,597$304,729$84,294$547,575
15$983,427$322,056$88,508$572,863
16$1,032,598$340,249$92,934$599,415
17$1,084,228$359,352$97,581$627,295
18$1,138,439$379,410$102,460$656,570
19$1,195,361$400,471$107,583$687,307
20$1,255,129$422,586$112,962$719,582
21$1,317,886$445,806$118,610$753,471
22$1,383,780$470,186$124,540$789,054
23$1,452,969$495,786$130,767$826,416
24$1,525,618$522,666$137,306$865,646
25$1,601,899$550,890$144,171$906,837
26$1,681,994$580,525$151,379$950,089
27$1,766,093$611,642$158,948$995,503
28$1,854,398$644,315$166,896$1,043,187
29$1,947,118$678,621$175,241$1,093,256
30$2,044,474$714,643$184,003$1,145,828
Total$33,000,000$10,961,676$2,970,002$19,068,325

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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.