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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 2023

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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 $122,000,000 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, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$636,442$180,873$1,018,960
2$1,928,089$670,413$189,917$1,067,759
3$2,024,493$706,083$199,413$1,118,998
4$2,125,718$743,536$209,383$1,172,799
5$2,232,004$782,862$219,852$1,229,290
6$2,343,604$824,154$230,845$1,288,605
7$2,460,784$867,510$242,387$1,350,887
8$2,583,823$913,035$254,507$1,416,282
9$2,713,015$960,836$267,232$1,484,947
10$2,848,665$1,011,026$280,594$1,557,045
11$2,991,099$1,063,727$294,623$1,632,749
12$3,140,654$1,119,062$309,354$1,712,237
13$3,297,686$1,177,164$324,822$1,795,700
14$3,462,571$1,238,171$341,063$1,883,336
15$3,635,699$1,302,229$358,116$1,975,354
16$3,817,484$1,369,489$376,022$2,071,973
17$4,008,358$1,440,113$394,823$2,173,422
18$4,208,776$1,514,267$414,564$2,279,944
19$4,419,215$1,592,130$435,293$2,391,792
20$4,640,176$1,673,885$457,057$2,509,233
21$4,872,184$1,759,728$479,910$2,632,546
22$5,115,794$1,849,864$503,906$2,762,024
23$5,371,583$1,944,506$529,101$2,897,976
24$5,640,162$2,043,880$555,556$3,040,726
25$5,922,171$2,148,223$583,334$3,190,613
26$6,218,279$2,257,784$612,501$3,347,995
27$6,529,193$2,372,822$643,126$3,513,246
28$6,855,653$2,493,612$675,282$3,686,759
29$7,198,435$2,620,441$709,046$3,868,948
30$7,558,357$2,753,612$744,498$4,060,247
Total$122,000,000$43,850,606$12,017,000$66,132,392

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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.