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Mississippi Mega Millions Jackpot Annuity Payout Schedule for May 21, 2021

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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 $516,000,000 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:Fri, May 21, 2021
Jackpot:$516,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,766,540$2,831,808$365,027$4,569,705
2$8,154,868$2,975,489$383,279$4,796,100
3$8,562,611$3,126,354$402,443$5,033,814
4$8,990,742$3,284,762$422,565$5,283,415
5$9,440,278$3,451,091$443,693$5,545,495
6$9,912,292$3,625,736$465,878$5,820,679
7$10,407,907$3,809,113$489,172$6,109,622
8$10,928,303$4,001,660$513,630$6,413,013
9$11,474,718$4,203,833$539,312$6,731,573
10$12,048,453$4,416,116$566,277$7,066,061
11$12,650,876$4,639,012$594,591$7,417,273
12$13,283,420$4,873,053$624,321$7,786,046
13$13,947,591$5,118,796$655,537$8,173,258
14$14,644,971$5,376,827$688,314$8,579,830
15$15,377,219$5,647,759$722,729$9,006,731
16$16,146,080$5,932,237$758,866$9,454,977
17$16,953,384$6,230,940$796,809$9,925,635
18$17,801,053$6,544,577$836,649$10,419,826
19$18,691,106$6,873,897$878,482$10,938,727
20$19,625,661$7,219,682$922,406$11,483,573
21$20,606,944$7,582,757$968,526$12,055,661
22$21,637,291$7,963,986$1,016,953$12,656,353
23$22,719,156$8,364,275$1,067,800$13,287,080
24$23,855,113$8,784,580$1,121,190$13,949,343
25$25,047,869$9,225,899$1,177,250$14,644,720
26$26,300,263$9,689,285$1,236,112$15,374,866
27$27,615,276$10,175,840$1,297,918$16,141,518
28$28,996,040$10,686,722$1,362,814$16,946,503
29$30,445,842$11,223,149$1,430,955$17,791,738
30$31,968,134$11,786,397$1,502,502$18,679,234
Total$516,000,001$189,665,632$24,252,000$302,082,369

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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.