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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Aug 8, 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 $1,602,000,000 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 8, 2023
Jackpot:$1,602,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,112,399$8,879,775$1,133,283$14,099,341
2$25,318,019$9,325,855$1,189,947$14,802,217
3$26,583,920$9,794,238$1,249,444$15,540,237
4$27,913,117$10,286,041$1,311,916$16,315,159
5$29,308,771$10,802,433$1,377,512$17,128,826
6$30,774,210$11,344,646$1,446,388$17,983,177
7$32,312,922$11,913,969$1,518,707$18,880,245
8$33,928,567$12,511,758$1,594,643$19,822,167
9$35,624,996$13,139,436$1,674,375$20,811,185
10$37,406,245$13,798,498$1,758,094$21,849,653
11$39,276,558$14,490,514$1,845,998$22,940,045
12$41,240,385$15,217,130$1,938,298$24,084,957
13$43,302,404$15,980,077$2,035,213$25,287,114
14$45,467,525$16,781,172$2,136,974$26,549,379
15$47,740,901$17,622,321$2,243,822$27,874,757
16$50,127,947$18,505,528$2,356,013$29,266,405
17$52,634,343$19,432,895$2,473,814$30,727,634
18$55,266,060$20,406,630$2,597,505$32,261,925
19$58,029,363$21,429,052$2,727,380$33,872,931
20$60,930,832$22,502,595$2,863,749$35,564,487
21$63,977,373$23,629,816$3,006,937$37,340,621
22$67,176,241$24,813,397$3,157,283$39,205,561
23$70,535,054$26,056,158$3,315,148$41,163,749
24$74,061,806$27,361,056$3,480,905$43,219,845
25$77,764,896$28,731,199$3,654,950$45,378,747
26$81,653,142$30,169,850$3,837,698$47,645,594
27$85,735,799$31,680,433$4,029,583$50,025,783
28$90,022,588$33,266,545$4,231,062$52,524,981
29$94,523,718$34,931,963$4,442,615$55,149,140
30$99,249,904$36,680,652$4,664,746$57,904,506
Total$1,602,000,003$591,485,632$75,294,002$935,220,368

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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.