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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Aug 1, 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 $1,100,000,000 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, Aug 1, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$778,159$9,694,298
2$17,384,408$6,390,419$817,067$10,176,922
3$18,253,628$6,712,030$857,921$10,683,677
4$19,166,310$7,049,722$900,817$11,215,771
5$20,124,624$7,404,299$945,857$11,774,468
6$21,130,856$7,776,604$993,150$12,361,101
7$22,187,399$8,167,525$1,042,808$12,977,066
8$23,296,769$8,577,992$1,094,948$13,623,829
9$24,461,608$9,008,983$1,149,696$14,302,929
10$25,684,688$9,461,522$1,207,180$15,015,985
11$26,968,922$9,936,689$1,267,539$15,764,694
12$28,317,368$10,435,614$1,330,916$16,550,838
13$29,733,237$10,959,485$1,397,462$17,376,289
14$31,219,899$11,509,550$1,467,335$18,243,013
15$32,780,893$12,087,118$1,540,702$19,153,073
16$34,419,938$12,693,565$1,617,737$20,108,636
17$36,140,935$13,330,334$1,698,624$21,111,977
18$37,947,982$13,998,941$1,783,555$22,165,485
19$39,845,380$14,700,978$1,872,733$23,271,669
20$41,837,650$15,438,118$1,966,370$24,433,162
21$43,929,532$16,212,115$2,064,688$25,652,729
22$46,126,009$17,024,811$2,167,922$26,933,275
23$48,432,309$17,878,142$2,276,319$28,277,849
24$50,853,924$18,774,140$2,390,134$29,689,650
25$53,396,620$19,714,937$2,509,641$31,172,042
26$56,066,452$20,702,775$2,635,123$32,728,554
27$58,869,775$21,740,004$2,766,879$34,362,891
28$61,813,263$22,829,095$2,905,223$36,078,944
29$64,903,926$23,972,640$3,050,485$37,880,801
30$68,149,123$25,173,363$3,203,009$39,772,751
Total$1,100,000,002$405,745,632$51,699,999$642,554,368

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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.