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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Jul 7, 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 $450,000,000 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 7, 2023
Jackpot:$450,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,773,146$2,464,252$609,583$3,699,311
2$7,111,803$2,589,555$640,062$3,882,186
3$7,467,393$2,721,123$672,065$4,074,205
4$7,840,763$2,859,270$705,669$4,275,824
5$8,232,801$3,004,324$740,952$4,487,525
6$8,644,441$3,156,631$778,000$4,709,810
7$9,076,663$3,316,553$816,900$4,943,210
8$9,530,496$3,484,471$857,745$5,188,280
9$10,007,021$3,660,786$900,632$5,445,604
10$10,507,372$3,845,915$945,663$5,715,793
11$11,032,741$4,040,302$992,947$5,999,492
12$11,584,378$4,244,408$1,042,594$6,297,376
13$12,163,597$4,458,719$1,094,724$6,610,154
14$12,771,777$4,683,745$1,149,460$6,938,572
15$13,410,365$4,920,023$1,206,933$7,283,410
16$14,080,884$5,168,115$1,267,280$7,645,490
17$14,784,928$5,428,611$1,330,643$8,025,673
18$15,524,174$5,702,132$1,397,176$8,424,866
19$16,300,383$5,989,329$1,467,034$8,844,019
20$17,115,402$6,290,887$1,540,386$9,284,129
21$17,971,172$6,607,521$1,617,405$9,746,245
22$18,869,731$6,939,988$1,698,276$10,231,467
23$19,813,217$7,289,078$1,783,190$10,740,950
24$20,803,878$7,655,623$1,872,349$11,275,906
25$21,844,072$8,040,494$1,965,966$11,837,611
26$22,936,276$8,444,610$2,064,265$12,427,401
27$24,083,090$8,868,931$2,167,478$13,046,681
28$25,287,244$9,314,468$2,275,852$13,696,924
29$26,551,606$9,782,282$2,389,645$14,379,680
30$27,879,187$10,273,487$2,509,127$15,096,573
Total$450,000,001$165,245,633$40,500,001$244,254,367

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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.