USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 19, 2021

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The tax information provided here is based on 2021 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 $850,000,000 for a ticket purchased in New Jersey, 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 prize money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Tue, Jan 19, 2021
Jackpot:$850,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,793,720$4,697,749$1,375,325$6,720,646
2$13,433,406$4,934,432$1,444,091$7,054,882
3$14,105,076$5,182,950$1,516,296$7,405,830
4$14,810,330$5,443,894$1,592,111$7,774,325
5$15,550,846$5,717,885$1,671,716$8,161,245
6$16,328,389$6,005,576$1,755,302$8,567,511
7$17,144,809$6,307,651$1,843,067$8,994,090
8$18,002,049$6,624,830$1,935,220$9,441,998
9$18,902,151$6,957,868$2,031,981$9,912,302
10$19,847,259$7,307,558$2,133,580$10,406,120
11$20,839,622$7,674,732$2,240,259$10,924,630
12$21,881,603$8,060,265$2,352,272$11,469,065
13$22,975,683$8,465,075$2,469,886$12,040,722
14$24,124,467$8,890,125$2,593,380$12,640,962
15$25,330,690$9,336,428$2,723,049$13,271,213
16$26,597,225$9,805,046$2,859,202$13,932,978
17$27,927,086$10,297,094$3,002,162$14,627,830
18$29,323,440$10,813,745$3,152,270$15,357,425
19$30,789,612$11,356,229$3,309,883$16,123,500
20$32,329,093$11,925,837$3,475,377$16,927,879
21$33,945,547$12,523,925$3,649,146$17,772,476
22$35,642,825$13,151,917$3,831,604$18,659,304
23$37,424,966$13,811,310$4,023,184$19,590,473
24$39,296,214$14,503,671$4,224,343$20,568,200
25$41,261,025$15,230,651$4,435,560$21,594,813
26$43,324,077$15,993,981$4,657,338$22,672,758
27$45,490,280$16,795,476$4,890,205$23,804,599
28$47,764,794$17,637,046$5,134,715$24,993,032
29$50,153,034$18,520,695$5,391,451$26,240,888
30$52,660,686$19,448,526$5,661,024$27,551,136
Total$850,000,002$313,422,167$91,374,999$445,202,832

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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.