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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Nov 4, 2014

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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 $321,000,000 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 money, as well as deductions claimed.

State:

Mississippi

Drawing Date:Tue, Nov 4, 2014
Jackpot:$321,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,831,511$1,745,847$227,081$2,858,583
2$5,073,086$1,835,230$238,435$2,999,422
3$5,326,740$1,929,082$250,357$3,147,302
4$5,593,078$2,027,626$262,875$3,302,577
5$5,872,731$2,131,098$276,018$3,465,615
6$6,166,368$2,239,744$289,819$3,636,805
7$6,474,687$2,353,822$304,310$3,816,554
8$6,798,421$2,473,603$319,526$4,005,292
9$7,138,342$2,599,374$335,502$4,203,466
10$7,495,259$2,731,434$352,277$4,411,548
11$7,870,022$2,870,096$369,891$4,630,035
12$8,263,523$3,015,691$388,386$4,859,446
13$8,676,699$3,168,566$407,805$5,100,328
14$9,110,534$3,329,085$428,195$5,353,254
15$9,566,061$3,497,630$449,605$5,618,826
16$10,044,364$3,674,602$472,085$5,897,676
17$10,546,582$3,860,423$495,689$6,190,469
18$11,073,911$4,055,535$520,474$6,497,902
19$11,627,606$4,260,402$546,498$6,820,707
20$12,208,987$4,475,513$573,822$7,159,652
21$12,819,436$4,701,379$602,513$7,515,543
22$13,460,408$4,938,539$632,639$7,889,230
23$14,133,428$5,187,556$664,271$8,281,601
24$14,840,100$5,449,025$697,485$8,693,590
25$15,582,105$5,723,566$732,359$9,126,179
26$16,361,210$6,011,836$768,977$9,580,398
27$17,179,271$6,314,518$807,426$10,057,327
28$18,038,234$6,632,334$847,797$10,558,103
29$18,940,146$6,966,042$890,187$11,083,917
30$19,887,153$7,316,434$934,696$11,636,023
Total$321,000,001$117,515,632$15,087,000$188,397,370

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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.