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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jun 18, 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 $61,000,000 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, Jun 18, 2024
Jackpot:$61,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$918,138$297,899$90,437$529,802
2$964,044$314,884$94,958$554,202
3$1,012,247$332,719$99,706$579,821
4$1,062,859$351,446$104,692$606,722
5$1,116,002$371,108$109,926$634,967
6$1,171,802$391,754$115,422$664,625
7$1,230,392$413,433$121,194$695,766
8$1,291,912$436,195$127,253$728,463
9$1,356,507$460,095$133,616$762,796
10$1,424,333$485,191$140,297$798,845
11$1,495,549$511,541$147,312$836,697
12$1,570,327$539,209$154,677$876,441
13$1,648,843$568,260$162,411$918,172
14$1,731,285$598,763$170,532$961,990
15$1,817,850$630,792$179,058$1,007,999
16$1,908,742$664,422$188,011$1,056,309
17$2,004,179$699,734$197,412$1,107,033
18$2,104,388$736,811$207,282$1,160,295
19$2,209,607$775,743$217,646$1,216,219
20$2,320,088$816,620$228,529$1,274,939
21$2,436,092$859,542$239,955$1,336,595
22$2,557,897$904,610$251,953$1,401,334
23$2,685,792$951,931$264,550$1,469,311
24$2,820,081$1,001,618$277,778$1,540,685
25$2,961,085$1,053,789$291,667$1,615,629
26$3,109,140$1,108,569$306,250$1,694,320
27$3,264,597$1,166,088$321,563$1,776,945
28$3,427,826$1,226,484$337,641$1,863,702
29$3,599,218$1,289,898$354,523$1,954,796
30$3,779,179$1,356,484$372,249$2,050,446
Total$61,000,000$21,315,632$6,008,500$33,675,866

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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.