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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2023

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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 $315,000,000 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:Tue, Oct 3, 2023
Jackpot:$315,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,741,202$1,712,432$426,708$2,602,061
2$4,978,262$1,800,145$448,044$2,730,074
3$5,227,175$1,892,243$470,446$2,864,487
4$5,488,534$1,988,945$493,968$3,005,621
5$5,762,961$2,090,483$518,666$3,153,811
6$6,051,109$2,197,098$544,600$3,309,411
7$6,353,664$2,309,044$571,830$3,472,791
8$6,671,348$2,426,586$600,421$3,644,340
9$7,004,915$2,550,006$630,442$3,824,466
10$7,355,161$2,679,597$661,964$4,013,599
11$7,722,919$2,815,668$695,063$4,212,188
12$8,109,065$2,958,542$729,816$4,420,707
13$8,514,518$3,108,559$766,307$4,639,652
14$8,940,244$3,266,078$804,622$4,869,544
15$9,387,256$3,431,472$844,853$5,110,930
16$9,856,619$3,605,137$887,096$5,364,386
17$10,349,449$3,787,484$931,450$5,630,515
18$10,866,922$3,978,949$978,023$5,909,950
19$11,410,268$4,179,987$1,026,924$6,203,357
20$11,980,782$4,391,077$1,078,270$6,511,434
21$12,579,820$4,612,721$1,132,184$6,834,915
22$13,208,812$4,845,448$1,188,793$7,174,570
23$13,869,252$5,089,811$1,248,233$7,531,208
24$14,562,715$5,346,392$1,310,644$7,905,678
25$15,290,850$5,615,802$1,376,177$8,298,871
26$16,055,393$5,898,683$1,444,985$8,711,725
27$16,858,163$6,195,708$1,517,235$9,145,220
28$17,701,071$6,507,584$1,593,096$9,600,390
29$18,586,124$6,835,054$1,672,751$10,078,319
30$19,515,431$7,178,897$1,756,389$10,580,145
Total$315,000,001$115,295,632$28,350,000$171,354,365

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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.