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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $720,000,000 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, Jul 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$975,333$5,893,810
2$11,378,885$4,168,375$1,024,100$6,186,410
3$11,947,829$4,378,884$1,075,305$6,493,640
4$12,545,221$4,599,920$1,129,070$6,816,232
5$13,172,481$4,832,006$1,185,523$7,154,952
6$13,831,106$5,075,697$1,244,800$7,510,609
7$14,522,661$5,331,572$1,307,040$7,884,049
8$15,248,794$5,600,242$1,372,391$8,276,161
9$16,011,234$5,882,344$1,441,011$8,687,879
10$16,811,796$6,178,552$1,513,062$9,120,182
11$17,652,385$6,489,570$1,588,715$9,574,100
12$18,535,005$6,816,139$1,668,150$10,050,715
13$19,461,755$7,159,037$1,751,558$10,551,160
14$20,434,843$7,519,080$1,839,136$11,076,627
15$21,456,585$7,897,124$1,931,093$11,628,368
16$22,529,414$8,294,071$2,027,647$12,207,696
17$23,655,884$8,710,865$2,129,030$12,815,990
18$24,838,679$9,148,499$2,235,481$13,454,699
19$26,080,613$9,608,014$2,347,255$14,125,343
20$27,384,643$10,090,506$2,464,618$14,829,520
21$28,753,875$10,597,122$2,587,849$15,568,905
22$30,191,569$11,129,068$2,717,241$16,345,260
23$31,701,148$11,687,612$2,853,103$17,160,432
24$33,286,205$12,274,084$2,995,758$18,016,363
25$34,950,515$12,889,878$3,145,546$18,915,090
26$36,698,041$13,536,463$3,302,824$19,858,755
27$38,532,943$14,215,377$3,467,965$20,849,602
28$40,459,590$14,928,236$3,641,363$21,889,991
29$42,482,570$15,676,739$3,823,431$22,982,400
30$44,606,699$16,462,666$4,014,603$24,129,429
Total$720,000,001$265,145,632$64,800,001$390,054,369

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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.