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Mississippi Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

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The tax information provided here is based on 2025 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 $525,000,000 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, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,880,761$347,688$4,673,554
2$8,297,104$3,026,949$365,073$4,905,083
3$8,711,959$3,180,445$383,326$5,148,188
4$9,147,557$3,341,616$402,493$5,403,448
5$9,604,934$3,510,846$422,617$5,671,471
6$10,085,181$3,688,537$443,748$5,952,896
7$10,589,441$3,875,113$465,935$6,248,392
8$11,118,913$4,071,018$489,232$6,558,662
9$11,674,858$4,276,718$513,694$6,884,447
10$12,258,601$4,492,703$539,378$7,226,520
11$12,871,531$4,719,487$566,347$7,585,697
12$13,515,108$4,957,610$594,665$7,962,833
13$14,190,863$5,207,640$624,398$8,358,825
14$14,900,406$5,470,171$655,618$8,774,618
15$15,645,426$5,745,828$688,399$9,211,200
16$16,427,698$6,035,268$722,819$9,669,611
17$17,249,082$6,339,181$758,960$10,150,942
18$18,111,537$6,658,289$796,908$10,656,340
19$19,017,113$6,993,352$836,753$11,187,008
20$19,967,969$7,345,169$878,591$11,744,210
21$20,966,367$7,714,576$922,520$12,329,271
22$22,014,686$8,102,454$968,646$12,943,586
23$23,115,420$8,509,726$1,017,078$13,588,616
24$24,271,191$8,937,361$1,067,932$14,265,898
25$25,484,751$9,386,378$1,121,329$14,977,044
26$26,758,989$9,857,846$1,177,395$15,723,747
27$28,096,938$10,352,887$1,236,265$16,507,785
28$29,501,784$10,872,680$1,298,079$17,331,025
29$30,976,874$11,418,464$1,362,982$18,195,428
30$32,525,718$11,991,536$1,431,132$19,103,050
Total$525,000,001$192,960,609$23,100,000$308,939,395

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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.