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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 12, 2024

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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 $361,000,000 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, Nov 12, 2024
Jackpot:$361,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,433,568$1,967,440$535,206$2,930,921
2$5,705,247$2,067,961$561,967$3,075,318
3$5,990,509$2,173,508$590,065$3,226,935
4$6,290,034$2,284,333$619,568$3,386,133
5$6,604,536$2,400,698$650,547$3,553,291
6$6,934,763$2,522,882$683,074$3,728,806
7$7,281,501$2,651,176$717,228$3,913,098
8$7,645,576$2,785,883$753,089$4,106,603
9$8,027,855$2,927,327$790,744$4,309,785
10$8,429,247$3,075,842$830,281$4,523,125
11$8,850,710$3,231,783$871,795$4,747,132
12$9,293,245$3,395,521$915,385$4,982,340
13$9,757,908$3,567,446$961,154$5,229,308
14$10,245,803$3,747,967$1,009,212$5,488,624
15$10,758,093$3,937,515$1,059,672$5,760,906
16$11,295,998$4,136,539$1,112,656$6,046,803
17$11,860,798$4,345,515$1,168,289$6,346,994
18$12,453,838$4,564,940$1,226,703$6,662,194
19$13,076,529$4,795,336$1,288,038$6,993,155
20$13,730,356$5,037,252$1,352,440$7,340,664
21$14,416,874$5,291,263$1,420,062$7,705,548
22$15,137,717$5,557,976$1,491,065$8,088,677
23$15,894,603$5,838,023$1,565,618$8,490,961
24$16,689,333$6,132,074$1,643,899$8,913,360
25$17,523,800$6,440,826$1,726,094$9,356,879
26$18,399,990$6,765,017$1,812,399$9,822,575
27$19,319,990$7,105,416$1,903,019$10,311,554
28$20,285,989$7,462,836$1,998,170$10,824,983
29$21,300,288$7,838,127$2,098,078$11,364,083
30$22,365,303$8,232,182$2,202,982$11,930,138
Total$361,000,001$132,280,604$35,558,499$193,160,893

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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.