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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Dec 20, 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 $465,000,000 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, Dec 20, 2022
Jackpot:$465,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,998,917$2,546,620$689,393$3,762,904
2$7,348,863$2,676,100$723,863$3,948,901
3$7,716,306$2,812,054$760,056$4,144,197
4$8,102,122$2,954,805$798,059$4,349,258
5$8,507,228$3,104,694$837,962$4,564,571
6$8,932,589$3,262,078$879,860$4,790,651
7$9,379,219$3,427,331$923,853$5,028,035
8$9,848,180$3,600,847$970,046$5,277,287
9$10,340,589$3,783,038$1,018,548$5,539,003
10$10,857,618$3,974,339$1,069,475$5,813,804
11$11,400,499$4,175,205$1,122,949$6,102,345
12$11,970,524$4,386,114$1,179,097$6,405,313
13$12,569,050$4,607,569$1,238,051$6,723,430
14$13,197,503$4,840,096$1,299,954$7,057,452
15$13,857,378$5,084,250$1,364,952$7,408,176
16$14,550,247$5,340,612$1,433,199$7,776,436
17$15,277,759$5,609,791$1,504,859$8,163,108
18$16,041,647$5,892,430$1,580,102$8,569,115
19$16,843,729$6,189,200$1,659,107$8,995,422
20$17,685,916$6,500,809$1,742,063$9,443,044
21$18,570,211$6,827,998$1,829,166$9,913,047
22$19,498,722$7,171,547$1,920,624$10,406,550
23$20,473,658$7,532,274$2,016,655$10,924,729
24$21,497,341$7,911,036$2,117,488$11,468,816
25$22,572,208$8,308,737$2,223,362$12,040,108
26$23,700,818$8,726,323$2,334,531$12,639,965
27$24,885,859$9,164,788$2,451,257$13,269,814
28$26,130,152$9,625,176$2,573,820$13,931,155
29$27,436,660$10,108,584$2,702,511$14,625,564
30$28,808,493$10,616,163$2,837,637$15,354,694
Total$465,000,001$170,760,608$45,802,499$248,436,894

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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.