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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 22, 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 $259,000,000 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:Tue, Nov 22, 2022
Jackpot:$259,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,898,322$1,405,334$383,985$2,109,003
2$4,093,238$1,477,453$403,184$2,212,601
3$4,297,900$1,553,178$423,343$2,321,379
4$4,512,795$1,632,689$444,510$2,435,595
5$4,738,434$1,716,176$466,736$2,555,523
6$4,975,356$1,803,837$490,073$2,681,447
7$5,224,124$1,895,881$514,576$2,813,667
8$5,485,330$1,992,527$540,305$2,952,498
9$5,759,597$2,094,006$567,320$3,098,271
10$6,047,576$2,200,558$595,686$3,251,332
11$6,349,955$2,312,438$625,471$3,412,046
12$6,667,453$2,429,913$656,744$3,580,796
13$7,000,826$2,553,261$689,581$3,757,984
14$7,350,867$2,682,776$724,060$3,944,031
15$7,718,410$2,818,767$760,263$4,139,380
16$8,104,331$2,961,557$798,277$4,344,497
17$8,509,547$3,111,488$838,190$4,559,869
18$8,935,025$3,268,914$880,100$4,786,011
19$9,381,776$3,434,212$924,105$5,023,459
20$9,850,865$3,607,775$970,310$5,272,780
21$10,343,408$3,790,016$1,018,826$5,534,566
22$10,860,578$3,981,369$1,069,767$5,809,442
23$11,403,607$4,182,290$1,123,255$6,098,062
24$11,973,788$4,393,256$1,179,418$6,401,113
25$12,572,477$4,614,771$1,238,389$6,719,316
26$13,201,101$4,847,362$1,300,308$7,053,430
27$13,861,156$5,091,583$1,365,324$7,404,249
28$14,554,214$5,348,014$1,433,590$7,772,610
29$15,281,924$5,617,267$1,505,270$8,159,388
30$16,046,021$5,899,983$1,580,533$8,565,505
Total$259,000,001$94,718,651$25,511,499$138,769,850

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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.