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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 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 $640,000,000 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, Jul 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,522,368$866,963$5,243,588
2$10,114,564$3,700,577$910,311$5,503,677
3$10,620,292$3,887,696$955,826$5,776,770
4$11,151,308$4,084,172$1,003,618$6,063,518
5$11,708,872$4,290,471$1,053,799$6,364,603
6$12,294,316$4,507,085$1,106,488$6,680,743
7$12,909,032$4,734,530$1,161,813$7,012,690
8$13,554,484$4,973,347$1,219,904$7,361,234
9$14,232,208$5,224,105$1,280,899$7,727,205
10$14,943,818$5,487,400$1,344,944$8,111,474
11$15,691,009$5,763,861$1,412,191$8,514,957
12$16,475,560$6,054,145$1,482,800$8,938,614
13$17,299,338$6,358,943$1,556,940$9,383,455
14$18,164,305$6,678,980$1,634,787$9,850,537
15$19,072,520$7,015,020$1,716,527$10,340,973
16$20,026,146$7,367,862$1,802,353$10,855,931
17$21,027,453$7,738,345$1,892,471$11,396,637
18$22,078,826$8,127,353$1,987,094$11,964,378
19$23,182,767$8,535,811$2,086,449$12,560,506
20$24,341,905$8,964,693$2,190,771$13,186,441
21$25,559,000$9,415,018$2,300,310$13,843,672
22$26,836,950$9,887,859$2,415,326$14,533,765
23$28,178,798$10,384,343$2,536,092$15,258,363
24$29,587,738$10,905,651$2,662,896$16,019,191
25$31,067,124$11,453,024$2,796,041$16,818,059
26$32,620,481$12,027,766$2,935,843$17,656,872
27$34,251,505$12,631,245$3,082,635$18,537,625
28$35,964,080$13,264,897$3,236,767$19,462,415
29$37,762,284$13,930,233$3,398,606$20,433,446
30$39,650,399$14,628,835$3,568,536$21,453,028
Total$640,000,001$235,545,635$57,600,000$346,854,367

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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.