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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Dec 2, 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 $333,000,000 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 2, 2022
Jackpot:$333,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,012,128$1,817,442$493,695$2,700,991
2$5,262,734$1,910,167$518,379$2,834,188
3$5,525,871$2,007,527$544,298$2,974,045
4$5,802,165$2,109,756$571,513$3,120,896
5$6,092,273$2,217,096$600,089$3,275,088
6$6,396,886$2,329,803$630,093$3,436,990
7$6,716,731$2,448,145$661,598$3,606,987
8$7,052,567$2,572,405$694,678$3,785,485
9$7,405,196$2,702,877$729,412$3,972,907
10$7,775,455$2,839,874$765,882$4,169,700
11$8,164,228$2,983,719$804,176$4,376,332
12$8,572,440$3,134,758$844,385$4,593,297
13$9,001,062$3,293,348$886,605$4,821,109
14$9,451,115$3,459,867$930,935$5,060,312
15$9,923,670$3,634,713$977,482$5,311,476
16$10,419,854$3,818,301$1,026,356$5,575,197
17$10,940,847$4,011,068$1,077,673$5,852,105
18$11,487,889$4,213,474$1,131,557$6,142,858
19$12,062,283$4,426,000$1,188,135$6,448,149
20$12,665,398$4,649,152$1,247,542$6,768,704
21$13,298,667$4,883,462$1,309,919$7,105,287
22$13,963,601$5,129,487$1,375,415$7,458,699
23$14,661,781$5,387,814$1,444,185$7,829,782
24$15,394,870$5,659,057$1,516,395$8,219,418
25$16,164,613$5,943,862$1,592,214$8,628,537
26$16,972,844$6,242,907$1,671,825$9,058,112
27$17,821,486$6,556,905$1,755,416$9,509,165
28$18,712,560$6,886,602$1,843,187$9,982,771
29$19,648,188$7,232,785$1,935,347$10,480,057
30$20,630,598$7,596,276$2,032,114$11,002,208
Total$333,000,001$122,098,649$32,800,500$178,100,852

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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.