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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Sep 12, 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 $141,000,000 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, Sep 12, 2023
Jackpot:$141,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,122,252$743,421$209,042$1,169,789
2$2,228,365$782,683$219,494$1,226,188
3$2,339,783$823,908$230,469$1,285,407
4$2,456,772$867,194$241,992$1,347,587
5$2,579,611$912,644$254,092$1,412,875
6$2,708,592$960,367$266,796$1,481,429
7$2,844,021$1,010,476$280,136$1,553,410
8$2,986,222$1,063,090$294,143$1,628,989
9$3,135,533$1,118,335$308,850$1,708,348
10$3,292,310$1,176,342$324,293$1,791,675
11$3,456,925$1,237,250$340,507$1,879,168
12$3,629,772$1,301,203$357,533$1,971,036
13$3,811,260$1,368,354$375,409$2,067,497
14$4,001,823$1,438,862$394,180$2,168,781
15$4,201,914$1,512,896$413,889$2,275,130
16$4,412,010$1,590,632$434,583$2,386,796
17$4,632,611$1,672,254$456,312$2,504,045
18$4,864,241$1,757,957$479,128$2,627,156
19$5,107,453$1,847,945$503,084$2,756,424
20$5,362,826$1,942,433$528,238$2,892,154
21$5,630,967$2,041,646$554,650$3,034,671
22$5,912,516$2,145,819$582,383$3,184,314
23$6,208,141$2,255,200$611,502$3,341,439
24$6,518,548$2,370,051$642,077$3,506,421
25$6,844,476$2,490,644$674,181$3,679,651
26$7,186,700$2,617,267$707,890$3,861,543
27$7,546,035$2,750,221$743,284$4,052,530
28$7,923,336$2,889,822$780,449$4,253,066
29$8,319,503$3,036,404$819,471$4,463,628
30$8,735,478$3,190,315$860,445$4,684,719
Total$141,000,000$50,915,635$13,888,502$76,195,866

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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.