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Montana 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 Montana, 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:

Montana

Drawing Date:Fri, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$108,340$1,090,325
2$1,928,089$671,581$113,757$1,142,751
3$2,024,493$707,250$119,445$1,197,798
4$2,125,718$744,703$125,417$1,255,597
5$2,232,004$784,029$131,688$1,316,286
6$2,343,604$825,321$138,273$1,380,010
7$2,460,784$868,678$145,186$1,446,920
8$2,583,823$914,202$152,446$1,517,175
9$2,713,015$962,003$160,068$1,590,944
10$2,848,665$1,012,194$168,071$1,668,400
11$2,991,099$1,064,894$176,475$1,749,730
12$3,140,654$1,120,230$185,299$1,835,125
13$3,297,686$1,178,332$194,563$1,924,791
14$3,462,571$1,239,339$204,292$2,018,940
15$3,635,699$1,303,396$214,506$2,117,796
16$3,817,484$1,370,657$225,232$2,221,596
17$4,008,358$1,441,280$236,493$2,330,585
18$4,208,776$1,515,435$248,318$2,445,023
19$4,419,215$1,593,297$260,734$2,565,184
20$4,640,176$1,675,053$273,770$2,691,353
21$4,872,184$1,760,896$287,459$2,823,830
22$5,115,794$1,851,031$301,832$2,962,930
23$5,371,583$1,945,674$316,923$3,108,986
24$5,640,162$2,045,048$332,770$3,262,345
25$5,922,171$2,149,391$349,408$3,423,372
26$6,218,279$2,258,951$366,878$3,592,450
27$6,529,193$2,373,989$385,222$3,769,982
28$6,855,653$2,494,779$404,484$3,956,390
29$7,198,435$2,621,609$424,708$4,152,119
30$7,558,357$2,754,780$445,943$4,357,634
Total$122,000,000$43,885,632$7,198,000$70,916,367

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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.