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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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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 $45,000,000 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, Oct 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$31,834$436,687
2$711,180$221,324$33,425$456,430
3$746,739$234,481$35,097$477,161
4$784,076$248,296$36,852$498,929
5$823,280$262,801$38,694$521,785
6$864,444$278,032$40,629$545,783
7$907,666$294,024$42,660$570,982
8$953,050$310,816$44,793$597,440
9$1,000,702$328,448$47,033$625,222
10$1,050,737$346,961$49,385$654,392
11$1,103,274$366,399$51,854$685,021
12$1,158,438$386,810$54,447$717,181
13$1,216,360$408,241$57,169$750,950
14$1,277,178$430,743$60,027$786,407
15$1,341,037$454,371$63,029$823,637
16$1,408,088$479,180$66,180$862,728
17$1,478,493$505,230$69,489$903,774
18$1,552,417$532,582$72,964$946,872
19$1,630,038$561,302$76,612$992,125
20$1,711,540$591,458$80,442$1,039,640
21$1,797,117$623,121$84,465$1,089,532
22$1,886,973$656,368$88,688$1,141,918
23$1,981,322$691,277$93,122$1,196,923
24$2,080,388$727,931$97,778$1,254,678
25$2,184,407$766,418$102,667$1,315,322
26$2,293,628$806,830$107,800$1,378,997
27$2,408,309$849,262$113,191$1,445,856
28$2,528,724$893,816$118,850$1,516,059
29$2,655,161$940,597$124,793$1,589,771
30$2,787,919$989,718$131,032$1,667,169
Total$45,000,000$15,395,631$2,115,001$27,489,371

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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.