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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jul 4, 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 $400,000,000 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, Jul 4, 2023
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$282,967$3,551,807
2$6,321,603$2,297,181$297,115$3,727,307
3$6,637,683$2,414,130$311,971$3,911,581
4$6,969,567$2,536,928$327,570$4,105,070
5$7,318,045$2,665,864$343,948$4,308,233
6$7,683,948$2,801,248$361,146$4,521,554
7$8,068,145$2,943,401$379,203$4,745,541
8$8,471,552$3,092,662$398,163$4,980,727
9$8,895,130$3,249,386$418,071$5,227,673
10$9,339,886$3,413,946$438,975$5,486,966
11$9,806,881$3,586,734$460,923$5,759,224
12$10,297,225$3,768,161$483,970$6,045,094
13$10,812,086$3,958,660$508,168$6,345,258
14$11,352,690$4,158,683$533,576$6,660,431
15$11,920,325$4,368,708$560,255$6,991,362
16$12,516,341$4,589,234$588,268$7,338,839
17$13,142,158$4,820,786$617,681$7,703,690
18$13,799,266$5,063,916$648,566$8,086,784
19$14,489,229$5,319,203$680,994$8,489,033
20$15,213,691$5,587,253$715,043$8,911,394
21$15,974,375$5,868,707$750,796$9,354,873
22$16,773,094$6,164,233$788,335$9,820,526
23$17,611,749$6,474,535$827,752$10,309,462
24$18,492,336$6,800,352$869,140$10,822,844
25$19,416,953$7,142,460$912,597$11,361,896
26$20,387,801$7,501,674$958,227$11,927,900
27$21,407,191$7,878,848$1,006,138$12,522,204
28$22,477,550$8,274,881$1,056,445$13,146,224
29$23,601,428$8,690,716$1,109,267$13,801,445
30$24,781,499$9,127,342$1,164,730$14,489,426
Total$400,000,001$146,745,632$18,800,000$234,454,368

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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.