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Minnesota Mega Millions Jackpot Annuity Payout Schedule for Jul 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 $203,000,000 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, Jul 12, 2024
Jackpot:$203,000,000
Federal Tax:37% marginal rate
State Tax: 9.85%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,055,441$1,087,534$300,961$1,666,947
2$3,208,213$1,144,059$316,009$1,748,145
3$3,368,624$1,203,411$331,809$1,833,403
4$3,537,055$1,265,731$348,400$1,922,925
5$3,713,908$1,331,166$365,820$2,016,922
6$3,899,603$1,399,874$384,111$2,115,619
7$4,094,584$1,472,016$403,316$2,219,251
8$4,299,313$1,547,766$423,482$2,328,065
9$4,514,278$1,627,303$444,656$2,442,319
10$4,739,992$1,710,817$466,889$2,562,286
11$4,976,992$1,798,507$490,234$2,688,251
12$5,225,842$1,890,582$514,745$2,820,515
13$5,487,134$1,987,260$540,483$2,959,391
14$5,761,490$2,088,772$567,507$3,105,212
15$6,049,565$2,195,359$595,882$3,258,323
16$6,352,043$2,307,276$625,676$3,419,091
17$6,669,645$2,424,789$656,960$3,587,896
18$7,003,127$2,548,177$689,808$3,765,142
19$7,353,284$2,677,735$724,298$3,951,250
20$7,720,948$2,813,771$760,513$4,146,664
21$8,106,995$2,956,609$798,539$4,351,848
22$8,512,345$3,106,588$838,466$4,567,291
23$8,937,963$3,264,066$880,389$4,793,507
24$9,384,861$3,429,419$924,409$5,031,033
25$9,854,104$3,603,039$970,629$5,280,436
26$10,346,809$3,785,340$1,019,161$5,542,309
27$10,864,149$3,976,756$1,070,119$5,817,275
28$11,407,357$4,177,742$1,123,625$6,105,990
29$11,977,725$4,388,778$1,179,806$6,409,140
30$12,576,611$4,610,366$1,238,796$6,727,448
Total$203,000,000$73,820,608$19,995,498$109,183,894

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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.