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Minnesota Mega Millions Jackpot Annuity Payout Schedule for May 21, 2021

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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 $516,000,000 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:Fri, May 21, 2021
Jackpot:$516,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,766,540$2,831,808$765,004$4,169,729
2$8,154,868$2,975,489$803,254$4,376,124
3$8,562,611$3,126,354$843,417$4,592,840
4$8,990,742$3,284,762$885,588$4,820,391
5$9,440,278$3,451,091$929,867$5,059,320
6$9,912,292$3,625,736$976,361$5,310,196
7$10,407,907$3,809,113$1,025,179$5,573,615
8$10,928,303$4,001,660$1,076,438$5,850,205
9$11,474,718$4,203,833$1,130,260$6,140,625
10$12,048,453$4,416,116$1,186,773$6,445,565
11$12,650,876$4,639,012$1,246,111$6,765,753
12$13,283,420$4,873,053$1,308,417$7,101,950
13$13,947,591$5,118,796$1,373,838$7,454,957
14$14,644,971$5,376,827$1,442,530$7,825,614
15$15,377,219$5,647,759$1,514,656$8,214,804
16$16,146,080$5,932,237$1,590,389$8,623,454
17$16,953,384$6,230,940$1,669,908$9,052,536
18$17,801,053$6,544,577$1,753,404$9,503,072
19$18,691,106$6,873,897$1,841,074$9,976,135
20$19,625,661$7,219,682$1,933,128$10,472,851
21$20,606,944$7,582,757$2,029,784$10,994,403
22$21,637,291$7,963,986$2,131,273$11,542,033
23$22,719,156$8,364,275$2,237,837$12,117,044
24$23,855,113$8,784,580$2,349,729$12,720,805
25$25,047,869$9,225,899$2,467,215$13,354,755
26$26,300,263$9,689,285$2,590,576$14,020,402
27$27,615,276$10,175,840$2,720,105$14,719,332
28$28,996,040$10,686,722$2,856,110$15,453,207
29$30,445,842$11,223,149$2,998,915$16,223,777
30$31,968,134$11,786,397$3,148,861$17,032,875
Total$516,000,001$189,665,632$50,826,001$275,508,369

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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.