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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 4, 2014

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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 $321,000,000 for a ticket purchased in Minnesota, 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:

Minnesota

Drawing Date:Tue, Nov 4, 2014
Jackpot:$321,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,831,511$1,745,847$475,904$2,609,760
2$5,073,086$1,835,230$499,699$2,738,158
3$5,326,740$1,929,082$524,684$2,872,975
4$5,593,078$2,027,626$550,918$3,014,533
5$5,872,731$2,131,098$578,464$3,163,169
6$6,166,368$2,239,744$607,387$3,319,237
7$6,474,687$2,353,822$637,757$3,483,108
8$6,798,421$2,473,603$669,644$3,655,173
9$7,138,342$2,599,374$703,127$3,835,841
10$7,495,259$2,731,434$738,283$4,025,542
11$7,870,022$2,870,096$775,197$4,224,729
12$8,263,523$3,015,691$813,957$4,433,875
13$8,676,699$3,168,566$854,655$4,653,478
14$9,110,534$3,329,085$897,388$4,884,061
15$9,566,061$3,497,630$942,257$5,126,173
16$10,044,364$3,674,602$989,370$5,380,392
17$10,546,582$3,860,423$1,038,838$5,647,320
18$11,073,911$4,055,535$1,090,780$5,927,596
19$11,627,606$4,260,402$1,145,319$6,221,885
20$12,208,987$4,475,513$1,202,585$6,530,889
21$12,819,436$4,701,379$1,262,714$6,855,343
22$13,460,408$4,938,539$1,325,850$7,196,019
23$14,133,428$5,187,556$1,392,143$7,553,729
24$14,840,100$5,449,025$1,461,750$7,929,325
25$15,582,105$5,723,566$1,534,837$8,323,701
26$16,361,210$6,011,836$1,611,579$8,737,795
27$17,179,271$6,314,518$1,692,158$9,172,595
28$18,038,234$6,632,334$1,776,766$9,629,134
29$18,940,146$6,966,042$1,865,604$10,108,500
30$19,887,153$7,316,434$1,958,885$10,611,834
Total$321,000,001$117,515,632$31,618,499$171,865,869

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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.