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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 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 $87,000,000 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 1, 2022
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,309,475$442,693$128,983$737,798
2$1,374,949$466,919$135,432$772,597
3$1,443,696$492,355$142,204$809,137
4$1,515,881$519,064$149,314$847,503
5$1,591,675$547,107$156,780$887,787
6$1,671,259$576,553$164,619$930,086
7$1,754,822$607,472$172,850$974,500
8$1,842,563$639,936$181,492$1,021,134
9$1,934,691$674,023$190,567$1,070,100
10$2,031,425$709,815$200,095$1,121,515
11$2,132,997$747,396$210,100$1,175,500
12$2,239,646$786,857$220,605$1,232,184
13$2,351,629$828,290$231,635$1,291,703
14$2,469,210$871,796$243,217$1,354,197
15$2,592,671$917,476$255,378$1,419,817
16$2,722,304$965,440$268,147$1,488,717
17$2,858,419$1,015,803$281,554$1,561,062
18$3,001,340$1,068,684$295,632$1,637,025
19$3,151,407$1,124,208$310,414$1,716,785
20$3,308,978$1,182,510$325,934$1,800,534
21$3,474,427$1,243,726$342,231$1,888,470
22$3,648,148$1,308,002$359,343$1,980,803
23$3,830,555$1,375,493$377,310$2,077,752
24$4,022,083$1,446,358$396,175$2,179,549
25$4,223,187$1,520,767$415,984$2,286,436
26$4,434,347$1,598,896$436,783$2,398,668
27$4,656,064$1,680,931$458,622$2,516,510
28$4,888,867$1,767,069$481,553$2,640,245
29$5,133,311$1,857,513$505,631$2,770,167
30$5,389,976$1,952,479$530,913$2,906,585
Total$87,000,000$30,935,631$8,569,497$47,494,866

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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.