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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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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 $45,000,000 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, Oct 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$66,715$401,805
2$711,180$221,324$70,051$419,805
3$746,739$234,481$73,554$438,704
4$784,076$248,296$77,232$458,549
5$823,280$262,801$81,093$479,386
6$864,444$278,032$85,148$501,264
7$907,666$294,024$89,405$524,237
8$953,050$310,816$93,875$548,358
9$1,000,702$328,448$98,569$573,685
10$1,050,737$346,961$103,498$600,279
11$1,103,274$366,399$108,672$628,202
12$1,158,438$386,810$114,106$657,522
13$1,216,360$408,241$119,811$688,307
14$1,277,178$430,743$125,802$720,632
15$1,341,037$454,371$132,092$754,573
16$1,408,088$479,180$138,697$790,211
17$1,478,493$505,230$145,632$827,631
18$1,552,417$532,582$152,913$866,922
19$1,630,038$561,302$160,559$908,178
20$1,711,540$591,458$168,587$951,496
21$1,797,117$623,121$177,016$996,980
22$1,886,973$656,368$185,867$1,044,738
23$1,981,322$691,277$195,160$1,094,885
24$2,080,388$727,931$204,918$1,147,538
25$2,184,407$766,418$215,164$1,202,825
26$2,293,628$806,830$225,922$1,260,875
27$2,408,309$849,262$237,218$1,321,828
28$2,528,724$893,816$249,079$1,385,829
29$2,655,161$940,597$261,533$1,453,030
30$2,787,919$989,718$274,610$1,523,591
Total$45,000,000$15,395,631$4,432,498$25,171,865

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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.