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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 2023

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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 $52,000,000 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, Aug 25, 2023
Jackpot:$52,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$247,777$77,093$457,804
2$821,808$262,257$80,948$478,603
3$862,899$277,460$84,996$500,443
4$906,044$293,424$89,245$523,374
5$951,346$310,186$93,708$547,453
6$998,913$327,786$98,393$572,735
7$1,048,859$346,266$103,313$599,281
8$1,101,302$365,669$108,478$627,154
9$1,156,367$386,044$113,902$656,421
10$1,214,185$407,436$119,597$687,152
11$1,274,895$429,899$125,577$719,419
12$1,338,639$453,484$131,856$753,299
13$1,405,571$478,249$138,449$788,873
14$1,475,850$504,252$145,371$826,226
15$1,549,642$531,555$152,640$865,447
16$1,627,124$560,224$160,272$906,629
17$1,708,481$590,326$168,285$949,870
18$1,793,905$621,932$176,700$995,273
19$1,883,600$655,120$185,535$1,042,946
20$1,977,780$689,966$194,811$1,093,002
21$2,076,669$726,555$204,552$1,145,562
22$2,180,502$764,974$214,779$1,200,749
23$2,289,527$805,313$225,518$1,258,696
24$2,404,004$847,669$236,794$1,319,540
25$2,524,204$892,143$248,634$1,383,427
26$2,650,414$938,841$261,066$1,450,507
27$2,782,935$987,874$274,119$1,520,942
28$2,922,082$1,039,358$287,825$1,594,899
29$3,068,186$1,093,416$302,216$1,672,553
30$3,221,595$1,150,178$317,327$1,754,090
Total$52,000,000$17,985,633$5,121,999$28,892,369

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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.