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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jan 5, 2018

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The tax information provided here is based on 2022 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 $451,000,000 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 prize money, as well as deductions claimed.

State:

Minnesota

Drawing Date:Fri, Jan 5, 2018
Jackpot:$451,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,788,197$2,474,588$668,637$3,644,972
2$7,127,607$2,600,170$702,069$3,825,368
3$7,483,987$2,732,030$737,173$4,014,784
4$7,858,187$2,870,484$774,031$4,213,671
5$8,251,096$3,015,861$812,733$4,422,503
6$8,663,651$3,168,506$853,370$4,641,775
7$9,096,834$3,328,783$896,038$4,872,012
8$9,551,675$3,497,075$940,840$5,113,760
9$10,029,259$3,673,781$987,882$5,367,596
10$10,530,722$3,859,322$1,037,276$5,634,124
11$11,057,258$4,054,140$1,089,140$5,913,978
12$11,610,121$4,258,700$1,143,597$6,207,824
13$12,190,627$4,473,487$1,200,777$6,516,363
14$12,800,158$4,699,014$1,260,816$6,840,329
15$13,440,166$4,935,816$1,323,856$7,180,493
16$14,112,175$5,184,460$1,390,049$7,537,666
17$14,817,783$5,445,535$1,459,552$7,912,697
18$15,558,672$5,719,664$1,532,529$8,306,479
19$16,336,606$6,007,499$1,609,156$8,719,951
20$17,153,436$6,309,726$1,689,613$9,154,096
21$18,011,108$6,627,065$1,774,094$9,609,949
22$18,911,663$6,960,270$1,862,799$10,088,594
23$19,857,247$7,310,136$1,955,939$10,591,172
24$20,850,109$7,677,495$2,053,736$11,118,878
25$21,892,614$8,063,222$2,156,423$11,672,969
26$22,987,245$8,468,236$2,264,244$12,254,766
27$24,136,608$8,893,500$2,377,456$12,865,652
28$25,343,438$9,340,027$2,496,329$13,507,082
29$26,610,610$9,808,881$2,621,145$14,180,584
30$27,941,140$10,301,177$2,752,202$14,887,761
Total$451,000,001$165,758,650$44,423,501$240,817,848

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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.