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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 18, 2022

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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 $238,000,000 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, Nov 18, 2022
Jackpot:$238,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,582,242$1,288,384$352,851$1,941,006
2$3,761,354$1,354,656$370,493$2,036,204
3$3,949,421$1,424,241$389,018$2,136,162
4$4,146,892$1,497,305$408,469$2,241,118
5$4,354,237$1,574,023$428,892$2,351,322
6$4,571,949$1,654,576$450,337$2,467,036
7$4,800,546$1,739,157$472,854$2,588,535
8$5,040,574$1,827,967$496,497$2,716,110
9$5,292,602$1,921,218$521,321$2,850,063
10$5,557,232$2,019,131$547,387$2,990,714
11$5,835,094$2,121,940$574,757$3,138,398
12$6,126,849$2,229,889$603,495$3,293,465
13$6,433,191$2,343,236$633,669$3,456,286
14$6,754,851$2,462,250$665,353$3,627,248
15$7,092,593$2,587,215$698,620$3,806,758
16$7,447,223$2,718,428$733,551$3,995,244
17$7,819,584$2,856,201$770,229$4,193,154
18$8,210,563$3,000,863$808,740$4,400,959
19$8,621,091$3,152,759$849,178$4,619,155
20$9,052,146$3,312,249$891,636$4,848,261
21$9,504,753$3,479,714$936,218$5,088,821
22$9,979,991$3,655,552$983,029$5,341,410
23$10,478,991$3,840,181$1,032,181$5,606,628
24$11,002,940$4,034,043$1,083,790$5,885,108
25$11,553,087$4,237,597$1,137,979$6,177,511
26$12,130,741$4,451,329$1,194,878$6,484,534
27$12,737,279$4,675,748$1,254,622$6,806,909
28$13,374,142$4,911,388$1,317,353$7,145,402
29$14,042,849$5,158,809$1,383,221$7,500,819
30$14,744,992$5,418,602$1,452,382$7,874,008
Total$238,000,000$86,948,651$23,443,000$127,608,348

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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.