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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Nov 15, 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 $387,000,000 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, Nov 15, 2024
Jackpot:$387,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,824,905$2,112,235$573,753$3,138,917
2$6,116,151$2,219,996$602,441$3,293,714
3$6,421,958$2,333,145$632,563$3,456,250
4$6,743,056$2,451,951$664,191$3,626,914
5$7,080,209$2,576,697$697,401$3,806,111
6$7,434,219$2,707,681$732,271$3,994,267
7$7,805,930$2,845,215$768,884$4,191,832
8$8,196,227$2,989,624$807,328$4,399,274
9$8,606,038$3,141,254$847,695$4,617,089
10$9,036,340$3,300,466$890,079$4,845,795
11$9,488,157$3,467,638$934,583$5,085,935
12$9,962,565$3,643,169$981,313$5,338,083
13$10,460,693$3,827,477$1,030,378$5,602,838
14$10,983,728$4,021,000$1,081,897$5,880,831
15$11,532,914$4,224,199$1,135,992$6,172,724
16$12,109,560$4,437,557$1,192,792$6,479,211
17$12,715,038$4,661,584$1,252,431$6,801,022
18$13,350,790$4,896,812$1,315,053$7,138,925
19$14,018,329$5,143,802$1,380,805$7,493,722
20$14,719,246$5,403,141$1,449,846$7,866,259
21$15,455,208$5,675,447$1,522,338$8,257,423
22$16,227,968$5,961,369$1,598,455$8,668,145
23$17,039,367$6,261,586$1,678,378$9,099,403
24$17,891,335$6,576,814$1,762,297$9,552,224
25$18,785,902$6,907,804$1,850,411$10,027,687
26$19,725,197$7,255,343$1,942,932$10,526,922
27$20,711,457$7,620,259$2,040,079$11,051,119
28$21,747,030$8,003,421$2,142,082$11,601,526
29$22,834,381$8,405,741$2,249,187$12,179,453
30$23,976,100$8,828,177$2,361,646$12,786,277
Total$387,000,001$141,900,604$38,119,501$206,979,892

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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.