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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $720,000,000 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 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$509,341$6,359,803
2$11,378,885$4,168,375$534,808$6,675,702
3$11,947,829$4,378,884$561,548$7,007,397
4$12,545,221$4,599,920$589,625$7,355,676
5$13,172,481$4,832,006$619,107$7,721,369
6$13,831,106$5,075,697$650,062$8,105,347
7$14,522,661$5,331,572$682,565$8,508,524
8$15,248,794$5,600,242$716,693$8,931,859
9$16,011,234$5,882,344$752,528$9,376,362
10$16,811,796$6,178,552$790,154$9,843,089
11$17,652,385$6,489,570$829,662$10,333,153
12$18,535,005$6,816,139$871,145$10,847,720
13$19,461,755$7,159,037$914,702$11,388,015
14$20,434,843$7,519,080$960,438$11,955,326
15$21,456,585$7,897,124$1,008,459$12,551,001
16$22,529,414$8,294,071$1,058,882$13,176,461
17$23,655,884$8,710,865$1,111,827$13,833,193
18$24,838,679$9,148,499$1,167,418$14,522,762
19$26,080,613$9,608,014$1,225,789$15,246,809
20$27,384,643$10,090,506$1,287,078$16,007,059
21$28,753,875$10,597,122$1,351,432$16,805,322
22$30,191,569$11,129,068$1,419,004$17,643,497
23$31,701,148$11,687,612$1,489,954$18,523,581
24$33,286,205$12,274,084$1,564,452$19,447,670
25$34,950,515$12,889,878$1,642,674$20,417,963
26$36,698,041$13,536,463$1,724,808$21,436,770
27$38,532,943$14,215,377$1,811,048$22,506,518
28$40,459,590$14,928,236$1,901,601$23,629,753
29$42,482,570$15,676,739$1,996,681$24,809,150
30$44,606,699$16,462,666$2,096,515$26,047,518
Total$720,000,001$265,145,632$33,840,000$421,014,369

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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.