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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Sep 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 $122,000,000 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, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$86,305$1,112,361
2$1,928,089$671,581$90,620$1,165,888
3$2,024,493$707,250$95,151$1,222,092
4$2,125,718$744,703$99,909$1,281,106
5$2,232,004$784,029$104,904$1,343,070
6$2,343,604$825,321$110,149$1,408,133
7$2,460,784$868,678$115,657$1,476,449
8$2,583,823$914,202$121,440$1,548,181
9$2,713,015$962,003$127,512$1,623,500
10$2,848,665$1,012,194$133,887$1,702,584
11$2,991,099$1,064,894$140,582$1,785,623
12$3,140,654$1,120,230$147,611$1,872,813
13$3,297,686$1,178,332$154,991$1,964,363
14$3,462,571$1,239,339$162,741$2,060,491
15$3,635,699$1,303,396$170,878$2,161,425
16$3,817,484$1,370,657$179,422$2,267,405
17$4,008,358$1,441,280$188,393$2,378,685
18$4,208,776$1,515,435$197,812$2,495,529
19$4,419,215$1,593,297$207,703$2,618,215
20$4,640,176$1,675,053$218,088$2,747,035
21$4,872,184$1,760,896$228,993$2,882,296
22$5,115,794$1,851,031$240,442$3,024,320
23$5,371,583$1,945,674$252,464$3,173,445
24$5,640,162$2,045,048$265,088$3,330,027
25$5,922,171$2,149,391$278,342$3,494,438
26$6,218,279$2,258,951$292,259$3,667,069
27$6,529,193$2,373,989$306,872$3,848,332
28$6,855,653$2,494,779$322,216$4,038,658
29$7,198,435$2,621,609$338,326$4,238,500
30$7,558,357$2,754,780$355,243$4,448,335
Total$122,000,000$43,885,632$5,734,000$72,380,368

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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.