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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2024

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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 $977,000,000 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, Mar 22, 2024
Jackpot:$977,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,705,252$5,399,131$1,448,467$7,857,654
2$15,440,515$5,671,178$1,520,891$8,248,446
3$16,212,540$5,956,828$1,596,935$8,658,777
4$17,023,168$6,256,760$1,676,782$9,089,626
5$17,874,325$6,571,688$1,760,621$9,542,016
6$18,768,042$6,902,363$1,848,652$10,017,027
7$19,706,445$7,249,572$1,941,085$10,515,788
8$20,691,767$7,614,141$2,038,139$11,039,486
9$21,726,355$7,996,939$2,140,046$11,589,370
10$22,812,673$8,398,877$2,247,048$12,166,748
11$23,953,306$8,820,911$2,359,401$12,772,995
12$25,150,972$9,264,047$2,477,371$13,409,554
13$26,408,520$9,729,340$2,601,239$14,077,941
14$27,728,946$10,217,898$2,731,301$14,779,747
15$29,115,393$10,730,883$2,867,866$15,516,644
16$30,571,163$11,269,518$3,011,260$16,290,386
17$32,099,721$11,835,084$3,161,823$17,102,814
18$33,704,707$12,428,929$3,319,914$17,955,864
19$35,389,942$13,052,466$3,485,909$18,851,567
20$37,159,440$13,707,180$3,660,205$19,792,054
21$39,017,411$14,394,630$3,843,215$20,779,566
22$40,968,282$15,116,452$4,035,376$21,816,454
23$43,016,696$15,874,365$4,237,145$22,905,186
24$45,167,531$16,670,174$4,449,002$24,048,355
25$47,425,907$17,505,773$4,671,452$25,248,682
26$49,797,203$18,383,153$4,905,025$26,509,026
27$52,287,064$19,304,401$5,150,276$27,832,387
28$54,901,416$20,271,712$5,407,789$29,221,915
29$57,646,487$21,287,388$5,678,179$30,680,920
30$60,528,812$22,353,848$5,962,088$32,212,876
Total$977,000,002$360,235,629$96,234,502$520,529,871

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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.