USA Mega

Mississippi Mega Millions Jackpot Annuity Payout Schedule for Jun 7, 2024

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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 $20,000,000 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, Jun 7, 2024
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$14,148$211,146
2$316,080$81,003$14,856$220,222
3$331,884$86,534$15,599$229,751
4$348,478$92,342$16,378$239,758
5$365,902$98,441$17,197$250,264
6$384,197$104,844$18,057$261,296
7$403,407$111,567$18,960$272,880
8$423,578$118,627$19,908$285,043
9$444,757$126,040$20,904$297,813
10$466,994$133,823$21,949$311,223
11$490,344$141,995$23,046$325,303
12$514,861$150,576$24,198$340,087
13$540,604$159,586$25,408$355,610
14$567,635$169,047$26,679$371,909
15$596,016$178,980$28,013$389,023
16$625,817$189,740$29,413$406,664
17$657,108$201,318$30,884$424,906
18$689,963$213,474$32,428$444,061
19$724,461$226,238$34,050$464,173
20$760,685$239,641$35,752$485,291
21$798,719$253,714$37,540$507,465
22$838,655$268,490$39,417$530,748
23$880,587$284,005$41,388$555,195
24$924,617$300,296$43,457$580,864
25$970,848$317,401$45,630$607,816
26$1,019,390$335,362$47,911$636,117
27$1,070,360$354,221$50,307$665,832
28$1,123,878$374,022$52,822$697,033
29$1,180,071$394,814$55,463$729,794
30$1,239,075$416,645$58,237$764,193
Total$20,000,000$6,198,521$939,999$12,861,480

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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.