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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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The tax information provided here is based on 2022 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 $120,000,000 for a ticket purchased in Mississippi, 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 prize money, as well as deductions claimed.

State:

Mississippi

Drawing Date:Fri, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$90,309$1,084,625
2$1,896,481$664,653$94,824$1,137,004
3$1,991,305$699,738$99,565$1,192,002
4$2,090,870$736,577$104,544$1,249,750
5$2,195,414$775,258$109,771$1,310,385
6$2,305,184$815,873$115,259$1,374,052
7$2,420,444$858,519$121,022$1,440,902
8$2,541,466$903,297$127,073$1,511,095
9$2,668,539$950,314$133,427$1,584,798
10$2,801,966$999,682$140,098$1,662,185
11$2,942,064$1,051,519$147,103$1,743,442
12$3,089,167$1,105,947$154,458$1,828,762
13$3,243,626$1,163,097$162,181$1,918,348
14$3,405,807$1,223,104$170,290$2,012,413
15$3,576,097$1,286,111$178,805$2,111,182
16$3,754,902$1,352,269$187,745$2,214,888
17$3,942,647$1,421,735$197,132$2,323,780
18$4,139,780$1,494,674$206,989$2,438,117
19$4,346,769$1,571,259$217,338$2,558,171
20$4,564,107$1,651,675$228,205$2,684,227
21$4,792,313$1,736,111$239,616$2,816,586
22$5,031,928$1,824,768$251,596$2,955,563
23$5,283,525$1,917,859$264,176$3,101,489
24$5,547,701$2,015,604$277,385$3,254,711
25$5,825,086$2,118,237$291,254$3,415,595
26$6,116,340$2,226,001$305,817$3,584,522
27$6,422,157$2,339,153$321,108$3,761,896
28$6,743,265$2,457,963$337,163$3,948,139
29$7,080,428$2,582,713$354,021$4,143,693
30$7,434,450$2,713,701$371,722$4,349,026
Total$120,000,000$43,288,650$5,999,996$70,711,348

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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.