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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 2022

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The tax information provided here is based on 2025 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 $429,000,000 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:Fri, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,346,135$636,021$3,474,910
2$6,779,919$2,465,590$667,822$3,646,507
3$7,118,915$2,591,019$701,213$3,826,683
4$7,474,861$2,722,719$736,274$4,015,868
5$7,848,603$2,861,004$773,087$4,214,512
6$8,241,034$3,006,203$811,742$4,423,089
7$8,653,086$3,158,662$852,329$4,642,095
8$9,085,740$3,318,744$894,945$4,872,051
9$9,540,027$3,486,830$939,693$5,113,504
10$10,017,028$3,663,321$986,677$5,367,030
11$10,517,880$3,848,636$1,036,011$5,633,233
12$11,043,774$4,043,216$1,087,812$5,912,745
13$11,595,962$4,247,526$1,142,202$6,206,234
14$12,175,760$4,462,052$1,199,312$6,514,396
15$12,784,548$4,687,303$1,259,278$6,837,967
16$13,423,776$4,923,817$1,322,242$7,177,717
17$14,094,964$5,172,157$1,388,354$7,534,453
18$14,799,713$5,432,914$1,457,772$7,909,027
19$15,539,698$5,706,709$1,530,660$8,302,329
20$16,316,683$5,994,193$1,607,193$8,715,297
21$17,132,517$6,296,052$1,687,553$9,148,913
22$17,989,143$6,613,003$1,771,931$9,604,209
23$18,888,601$6,945,802$1,860,527$10,082,271
24$19,833,030$7,295,241$1,953,553$10,584,235
25$20,824,682$7,662,153$2,051,231$11,111,298
26$21,865,916$8,047,409$2,153,793$11,664,714
27$22,959,212$8,451,929$2,261,482$12,245,801
28$24,107,172$8,876,674$2,374,556$12,855,942
29$25,312,531$9,322,657$2,493,284$13,496,590
30$26,578,158$9,790,939$2,617,949$14,169,271
Total$429,000,001$157,440,609$42,256,498$229,302,891

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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.