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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jul 28, 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 $940,000,000 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 28, 2023
Jackpot:$940,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,148,349$5,193,077$664,972$8,290,300
2$14,855,767$5,454,821$698,221$8,702,724
3$15,598,555$5,729,653$733,132$9,135,770
4$16,378,483$6,018,226$769,789$9,590,468
5$17,197,406$6,321,228$808,278$10,067,900
6$18,057,277$6,639,380$848,692$10,569,205
7$18,960,141$6,973,440$891,127$11,095,575
8$19,908,148$7,324,203$935,683$11,648,263
9$20,903,556$7,692,503$982,467$12,228,585
10$21,948,733$8,079,219$1,031,590$12,837,924
11$23,046,170$8,485,271$1,083,170$13,477,729
12$24,198,478$8,911,625$1,137,328$14,149,525
13$25,408,402$9,359,297$1,194,195$14,854,911
14$26,678,822$9,829,352$1,253,905$15,595,566
15$28,012,763$10,322,910$1,316,600$16,373,253
16$29,413,402$10,841,146$1,382,430$17,189,826
17$30,884,071$11,385,294$1,451,551$18,047,226
18$32,428,275$11,956,650$1,524,129$18,947,497
19$34,049,689$12,556,573$1,600,335$19,892,781
20$35,752,173$13,186,492$1,680,352$20,885,329
21$37,539,782$13,847,907$1,764,370$21,927,505
22$39,416,771$14,542,393$1,852,588$23,021,790
23$41,387,610$15,271,603$1,945,218$24,170,789
24$43,456,990$16,037,274$2,042,479$25,377,237
25$45,629,839$16,841,228$2,144,602$26,644,008
26$47,911,332$17,685,381$2,251,833$27,974,119
27$50,306,898$18,571,740$2,364,424$29,370,734
28$52,822,243$19,502,417$2,482,645$30,837,180
29$55,463,355$20,479,629$2,606,778$32,376,948
30$58,236,523$21,505,701$2,737,117$33,993,705
Total$940,000,002$346,545,633$44,180,000$549,274,372

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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.