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Massachusetts Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $122,000,000 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, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$165,265$1,033,401
2$1,928,089$671,581$173,528$1,082,980
3$2,024,493$707,250$182,204$1,135,039
4$2,125,718$744,703$191,315$1,189,700
5$2,232,004$784,029$200,880$1,247,094
6$2,343,604$825,321$210,924$1,307,358
7$2,460,784$868,678$221,471$1,370,636
8$2,583,823$914,202$232,544$1,437,077
9$2,713,015$962,003$244,171$1,506,840
10$2,848,665$1,012,194$256,380$1,580,092
11$2,991,099$1,064,894$269,199$1,657,006
12$3,140,654$1,120,230$282,659$1,737,765
13$3,297,686$1,178,332$296,792$1,822,563
14$3,462,571$1,239,339$311,631$1,911,600
15$3,635,699$1,303,396$327,213$2,005,090
16$3,817,484$1,370,657$343,574$2,103,254
17$4,008,358$1,441,280$360,752$2,206,326
18$4,208,776$1,515,435$378,790$2,314,551
19$4,419,215$1,593,297$397,729$2,428,188
20$4,640,176$1,675,053$417,616$2,547,507
21$4,872,184$1,760,896$438,497$2,672,792
22$5,115,794$1,851,031$460,421$2,804,341
23$5,371,583$1,945,674$483,443$2,942,467
24$5,640,162$2,045,048$507,615$3,087,500
25$5,922,171$2,149,391$532,995$3,239,784
26$6,218,279$2,258,951$559,645$3,399,683
27$6,529,193$2,373,989$587,627$3,567,577
28$6,855,653$2,494,779$617,009$3,743,865
29$7,198,435$2,621,609$647,859$3,928,967
30$7,558,357$2,754,780$680,252$4,123,325
Total$122,000,000$43,885,632$10,980,000$67,134,368

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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.