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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Jan 1, 2021

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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 $401,000,000 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, Jan 1, 2021
Jackpot:$401,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,035,625$2,191,369$543,206$3,301,050
2$6,337,407$2,303,028$570,367$3,464,012
3$6,654,277$2,420,270$598,885$3,635,122
4$6,986,991$2,543,374$628,829$3,814,787
5$7,336,340$2,672,634$660,271$4,003,436
6$7,703,157$2,808,356$693,284$4,201,517
7$8,088,316$2,950,865$727,948$4,409,503
8$8,492,731$3,100,498$764,346$4,627,887
9$8,917,368$3,257,614$802,563$4,857,191
10$9,363,236$3,422,585$842,691$5,097,960
11$9,831,398$3,595,805$884,826$5,350,767
12$10,322,968$3,777,686$929,067$5,616,215
13$10,839,116$3,968,661$975,520$5,894,935
14$11,381,072$4,169,184$1,024,296$6,187,591
15$11,950,126$4,379,734$1,075,511$6,494,880
16$12,547,632$4,600,812$1,129,287$6,817,534
17$13,175,013$4,832,943$1,185,751$7,156,319
18$13,833,764$5,076,680$1,245,039$7,512,045
19$14,525,452$5,332,605$1,307,291$7,885,556
20$15,251,725$5,601,326$1,372,655$8,277,744
21$16,014,311$5,883,483$1,441,288$8,689,540
22$16,815,027$6,179,748$1,513,352$9,121,927
23$17,655,778$6,490,826$1,589,020$9,575,932
24$18,538,567$6,817,457$1,668,471$10,052,638
25$19,465,495$7,160,421$1,751,895$10,553,180
26$20,438,770$7,520,533$1,839,489$11,078,748
27$21,460,709$7,898,650$1,931,464$11,630,595
28$22,533,744$8,295,673$2,028,037$12,210,034
29$23,660,431$8,712,547$2,129,439$12,818,445
30$24,843,453$9,150,265$2,235,911$13,457,277
Total$401,000,001$147,115,632$36,089,999$217,794,367

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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.