USA Mega

Missouri Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 2023

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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 $20,000,000 for a ticket purchased in Missouri, 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:

Missouri

Drawing Date:Fri, Aug 18, 2023
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$14,901$210,393
2$316,080$81,003$15,646$219,431
3$331,884$86,534$16,428$228,922
4$348,478$92,342$17,250$238,887
5$365,902$98,441$18,112$249,350
6$384,197$104,844$19,018$260,336
7$403,407$111,567$19,969$271,871
8$423,578$118,627$20,967$283,984
9$444,757$126,040$22,015$296,702
10$466,994$133,823$23,116$310,055
11$490,344$141,995$24,272$324,077
12$514,861$150,576$25,486$338,799
13$540,604$159,586$26,760$354,258
14$567,635$169,047$28,098$370,490
15$596,016$178,980$29,503$387,533
16$625,817$189,740$30,978$405,099
17$657,108$201,318$32,527$423,263
18$689,963$213,474$34,153$442,336
19$724,461$226,238$35,861$462,362
20$760,685$239,641$37,654$483,390
21$798,719$253,714$39,537$505,468
22$838,655$268,490$41,513$528,651
23$880,587$284,005$43,589$552,993
24$924,617$300,296$45,769$578,552
25$970,848$317,401$48,057$605,389
26$1,019,390$335,362$50,460$633,568
27$1,070,360$354,221$52,983$663,156
28$1,123,878$374,022$55,632$694,223
29$1,180,071$394,814$58,414$726,844
30$1,239,075$416,645$61,334$761,095
Total$20,000,000$6,198,521$990,002$12,811,477

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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.