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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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The tax information provided here is based on 2021 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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$207,559$1,155,905
2$2,212,561$782,720$217,937$1,211,904
3$2,323,189$823,652$228,834$1,270,703
4$2,439,349$866,631$240,276$1,332,441
5$2,561,316$911,759$252,290$1,397,267
6$2,689,382$959,143$264,904$1,465,334
7$2,823,851$1,008,897$278,149$1,536,804
8$2,965,043$1,061,138$292,057$1,611,848
9$3,113,296$1,115,992$306,660$1,690,644
10$3,268,960$1,173,588$321,993$1,773,380
11$3,432,408$1,234,063$338,092$1,860,253
12$3,604,029$1,297,563$354,997$1,951,469
13$3,784,230$1,364,237$372,747$2,047,246
14$3,973,442$1,434,246$391,384$2,147,812
15$4,172,114$1,507,754$410,953$2,253,406
16$4,380,719$1,584,938$431,501$2,364,280
17$4,599,755$1,665,982$453,076$2,480,698
18$4,829,743$1,751,077$475,730$2,602,936
19$5,071,230$1,840,427$499,516$2,731,287
20$5,324,792$1,934,245$524,492$2,866,055
21$5,591,031$2,032,754$550,717$3,007,561
22$5,870,583$2,136,188$578,252$3,156,143
23$6,164,112$2,244,794$607,165$3,312,153
24$6,472,318$2,358,830$637,523$3,475,965
25$6,795,933$2,478,568$669,399$3,647,966
26$7,135,730$2,604,292$702,869$3,828,568
27$7,492,517$2,736,303$738,013$4,018,200
28$7,867,143$2,874,915$774,914$4,217,314
29$8,260,500$3,020,457$813,659$4,426,383
30$8,673,525$3,173,276$854,342$4,645,906
Total$140,000,000$50,722,166$13,790,000$75,487,831

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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.