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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jun 30, 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 $368,000,000 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, Jun 30, 2023
Jackpot:$368,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,538,928$2,007,591$260,330$3,271,007
2$5,815,875$2,110,061$273,346$3,432,467
3$6,106,668$2,217,655$287,013$3,602,000
4$6,412,002$2,330,628$301,364$3,780,009
5$6,732,602$2,449,250$316,432$3,966,919
6$7,069,232$2,573,804$332,254$4,163,174
7$7,422,694$2,704,584$348,867$4,369,243
8$7,793,828$2,841,904$366,310$4,585,614
9$8,183,520$2,986,090$384,625$4,812,804
10$8,592,695$3,137,485$403,857$5,051,354
11$9,022,330$3,296,450$424,050$5,301,831
12$9,473,447$3,463,363$445,252$5,564,832
13$9,947,119$3,638,622$467,515$5,840,983
14$10,444,475$3,822,644$490,890$6,130,941
15$10,966,699$4,015,866$515,435$6,435,398
16$11,515,034$4,218,750$541,207$6,755,077
17$12,090,785$4,431,778$568,267$7,090,740
18$12,695,325$4,655,458$596,680$7,443,187
19$13,330,091$4,890,321$626,514$7,813,255
20$13,996,596$5,136,928$657,840$8,201,827
21$14,696,425$5,395,865$690,732$8,609,828
22$15,431,246$5,667,749$725,269$9,038,229
23$16,202,809$5,953,227$761,532$9,488,050
24$17,012,949$6,252,979$799,609$9,960,362
25$17,863,597$6,567,718$839,589$10,456,289
26$18,756,777$6,898,195$881,569$10,977,013
27$19,694,616$7,245,195$925,647$11,523,773
28$20,679,346$7,609,546$971,929$12,097,871
29$21,713,313$7,992,114$1,020,526$12,700,674
30$22,798,979$8,393,810$1,071,552$13,333,617
Total$368,000,001$134,905,630$17,296,002$215,798,368

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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.