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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 2022

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The tax information provided here is based on 2024 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 $830,000,000 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, Jul 26, 2022
Jackpot:$830,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,492,691$4,580,483$1,230,530$6,681,678
2$13,117,326$4,811,598$1,292,057$7,013,671
3$13,773,192$5,054,269$1,356,659$7,362,264
4$14,461,852$5,309,073$1,424,492$7,728,287
5$15,184,944$5,576,617$1,495,717$8,112,610
6$15,944,191$5,857,539$1,570,503$8,516,150
7$16,741,401$6,152,506$1,649,028$8,939,867
8$17,578,471$6,462,222$1,731,479$9,384,770
9$18,457,395$6,787,424$1,818,053$9,851,918
10$19,380,264$7,128,886$1,908,956$10,342,423
11$20,349,278$7,487,420$2,004,404$10,857,453
12$21,366,741$7,863,882$2,104,624$11,398,235
13$22,435,078$8,259,167$2,209,855$11,966,056
14$23,556,833$8,674,216$2,320,348$12,562,269
15$24,734,674$9,110,017$2,436,365$13,188,291
16$25,971,408$9,567,609$2,558,184$13,845,616
17$27,269,978$10,048,080$2,686,093$14,535,805
18$28,633,477$10,552,574$2,820,397$15,260,505
19$30,065,151$11,082,293$2,961,417$16,021,440
20$31,568,408$11,638,499$3,109,488$16,820,421
21$33,146,829$12,222,514$3,264,963$17,659,352
22$34,804,170$12,835,731$3,428,211$18,540,229
23$36,544,379$13,479,608$3,599,621$19,465,150
24$38,371,597$14,155,679$3,779,602$20,436,316
25$40,290,177$14,865,553$3,968,582$21,456,041
26$42,304,687$15,610,922$4,167,012$22,526,753
27$44,419,921$16,393,558$4,375,362$23,651,000
28$46,640,916$17,215,327$4,594,130$24,831,459
29$48,972,962$18,078,184$4,823,837$26,070,942
30$51,421,611$18,984,184$5,065,029$27,372,398
Total$830,000,002$305,845,634$81,754,998$442,399,369

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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.