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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jul 14, 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 $560,000,000 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, Jul 14, 2023
Jackpot:$560,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,428,804$3,076,845$396,154$4,955,805
2$8,850,244$3,232,778$415,961$5,201,504
3$9,292,756$3,396,507$436,760$5,459,489
4$9,757,394$3,568,424$458,598$5,730,373
5$10,245,263$3,748,935$481,527$6,014,801
6$10,757,527$3,938,473$505,604$6,313,450
7$11,295,403$4,137,487$530,884$6,627,032
8$11,860,173$4,346,452$557,428$6,956,293
9$12,453,182$4,565,865$585,300$7,302,017
10$13,075,841$4,796,249$614,565$7,665,028
11$13,729,633$5,038,152$645,293$8,046,188
12$14,416,115$5,292,150$677,557$8,446,407
13$15,136,920$5,558,848$711,435$8,866,637
14$15,893,767$5,838,881$747,007$9,307,878
15$16,688,455$6,132,916$784,357$9,771,181
16$17,522,878$6,441,652$823,575$10,257,650
17$18,399,021$6,765,826$864,754$10,768,442
18$19,318,972$7,106,208$907,992$11,304,773
19$20,284,921$7,463,608$953,391$11,867,921
20$21,299,167$7,838,880$1,001,061$12,459,227
21$22,364,125$8,232,914$1,051,114$13,080,097
22$23,482,332$8,646,650$1,103,670$13,732,012
23$24,656,448$9,081,074$1,158,853$14,416,522
24$25,889,270$9,537,218$1,216,796$15,135,257
25$27,183,734$10,016,169$1,277,635$15,889,929
26$28,542,921$10,519,069$1,341,517$16,682,335
27$29,970,067$11,047,113$1,408,593$17,514,361
28$31,468,570$11,601,559$1,479,023$18,387,989
29$33,041,999$12,183,727$1,552,974$19,305,297
30$34,694,099$12,795,004$1,630,623$20,268,472
Total$560,000,001$205,945,633$26,320,001$327,734,367

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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.