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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 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 $355,000,000 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:Fri, Sep 30, 2022
Jackpot:$355,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,343,259$1,939,961$526,311$2,876,987
2$5,610,422$2,038,811$552,627$3,018,985
3$5,890,943$2,142,604$580,258$3,168,081
4$6,185,491$2,251,587$609,271$3,324,633
5$6,494,765$2,366,018$639,734$3,489,013
6$6,819,503$2,486,171$671,721$3,661,611
7$7,160,479$2,612,332$705,307$3,842,840
8$7,518,503$2,744,801$740,573$4,033,129
9$7,894,428$2,883,893$777,601$4,232,933
10$8,289,149$3,029,940$816,481$4,442,728
11$8,703,607$3,183,289$857,305$4,663,012
12$9,138,787$3,344,306$900,171$4,894,310
13$9,595,726$3,513,374$945,179$5,137,174
14$10,075,513$3,690,895$992,438$5,392,180
15$10,579,288$3,877,292$1,042,060$5,659,937
16$11,108,253$4,073,009$1,094,163$5,941,081
17$11,663,665$4,278,511$1,148,871$6,236,283
18$12,246,849$4,494,289$1,206,315$6,546,245
19$12,859,191$4,720,856$1,266,630$6,871,705
20$13,502,151$4,958,751$1,329,962$7,213,438
21$14,177,258$5,208,540$1,396,460$7,572,258
22$14,886,121$5,470,820$1,466,283$7,949,018
23$15,630,427$5,746,213$1,539,597$8,344,617
24$16,411,948$6,035,376$1,616,577$8,759,995
25$17,232,546$6,338,997$1,697,406$9,196,143
26$18,094,173$6,657,799$1,782,276$9,654,098
27$18,998,882$6,992,541$1,871,390$10,134,951
28$19,948,826$7,344,020$1,964,959$10,639,846
29$20,946,267$7,713,074$2,063,207$11,169,986
30$21,993,581$8,100,580$2,166,368$11,726,633
Total$355,000,001$130,238,650$34,967,501$189,793,850

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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.