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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 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 $31,000,000 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, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$133,683$21,930$310,982
2$489,924$141,848$23,026$325,050
3$514,420$150,422$24,178$339,821
4$540,141$159,424$25,387$355,331
5$567,149$168,877$26,656$371,616
6$595,506$178,802$27,989$388,715
7$625,281$189,542$29,388$406,351
8$656,545$201,110$30,858$424,578
9$689,373$213,256$32,401$443,716
10$723,841$226,009$34,021$463,812
11$760,033$239,400$35,722$484,912
12$798,035$253,461$37,508$507,067
13$837,937$268,224$39,383$530,329
14$879,834$283,726$41,352$554,755
15$923,825$300,003$43,420$580,402
16$970,016$317,094$45,591$607,332
17$1,018,517$335,039$47,870$635,608
18$1,069,443$353,882$50,264$665,298
19$1,122,915$373,666$52,777$696,472
20$1,179,061$394,440$55,416$729,205
21$1,238,014$416,253$58,187$763,574
22$1,299,915$439,156$61,096$799,663
23$1,364,911$463,205$64,151$837,555
24$1,433,156$488,455$67,358$877,342
25$1,504,814$514,969$70,726$919,119
26$1,580,055$542,808$74,263$962,984
27$1,659,057$572,039$77,976$1,009,043
28$1,742,010$602,731$81,874$1,057,404
29$1,829,111$634,959$85,968$1,108,184
30$1,920,566$668,797$90,267$1,161,502
Total$31,000,000$10,225,280$1,457,003$19,317,722

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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.