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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Jul 28, 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 $940,000,000 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 28, 2023
Jackpot:$940,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,148,349$5,193,077$1,273,351$7,681,921
2$14,855,767$5,454,821$1,337,019$8,063,926
3$15,598,555$5,729,653$1,403,870$8,465,032
4$16,378,483$6,018,226$1,474,063$8,886,193
5$17,197,406$6,321,228$1,547,767$9,328,412
6$18,057,277$6,639,380$1,625,155$9,792,742
7$18,960,141$6,973,440$1,706,413$10,280,289
8$19,908,148$7,324,203$1,791,733$10,792,212
9$20,903,556$7,692,503$1,881,320$11,329,732
10$21,948,733$8,079,219$1,975,386$11,894,128
11$23,046,170$8,485,271$2,074,155$12,486,744
12$24,198,478$8,911,625$2,177,863$13,108,991
13$25,408,402$9,359,297$2,286,756$13,762,349
14$26,678,822$9,829,352$2,401,094$14,448,376
15$28,012,763$10,322,910$2,521,149$15,168,704
16$29,413,402$10,841,146$2,647,206$15,925,049
17$30,884,071$11,385,294$2,779,566$16,719,211
18$32,428,275$11,956,650$2,918,545$17,553,081
19$34,049,689$12,556,573$3,064,472$18,428,644
20$35,752,173$13,186,492$3,217,696$19,347,986
21$37,539,782$13,847,907$3,378,580$20,313,294
22$39,416,771$14,542,393$3,547,509$21,326,869
23$41,387,610$15,271,603$3,724,885$22,391,121
24$43,456,990$16,037,274$3,911,129$23,508,587
25$45,629,839$16,841,228$4,106,686$24,681,925
26$47,911,332$17,685,381$4,312,020$25,913,931
27$50,306,898$18,571,740$4,527,621$27,207,537
28$52,822,243$19,502,417$4,754,002$28,565,823
29$55,463,355$20,479,629$4,991,702$29,992,024
30$58,236,523$21,505,701$5,241,287$31,489,535
Total$940,000,002$346,545,633$84,600,000$508,854,368

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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.