USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for May 24, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $453,000,000 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 money, as well as deductions claimed.

State:

New Jersey

Drawing Date:Fri, May 24, 2024
Jackpot:$453,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,818,300$2,480,959$732,967$3,604,374
2$7,159,215$2,607,097$769,616$3,782,502
3$7,517,176$2,739,543$808,096$3,969,537
4$7,893,035$2,878,611$848,501$4,165,923
5$8,287,686$3,024,632$890,926$4,372,128
6$8,702,071$3,177,954$935,473$4,588,644
7$9,137,174$3,338,942$982,246$4,815,986
8$9,594,033$3,507,980$1,031,359$5,054,695
9$10,073,735$3,685,470$1,082,926$5,305,339
10$10,577,421$3,871,834$1,137,073$5,568,515
11$11,106,293$4,067,516$1,193,926$5,844,850
12$11,661,607$4,272,982$1,253,623$6,135,002
13$12,244,687$4,488,722$1,316,304$6,439,661
14$12,856,922$4,715,249$1,382,119$6,759,554
15$13,499,768$4,953,102$1,451,225$7,095,441
16$14,174,756$5,202,848$1,523,786$7,448,122
17$14,883,494$5,465,081$1,599,976$7,818,438
18$15,627,669$5,740,425$1,679,974$8,207,269
19$16,409,052$6,029,537$1,763,973$8,615,542
20$17,229,505$6,333,105$1,852,172$9,044,229
21$18,090,980$6,651,850$1,944,780$9,494,349
22$18,995,529$6,986,533$2,042,019$9,966,976
23$19,945,306$7,337,951$2,144,120$10,463,234
24$20,942,571$7,706,939$2,251,326$10,984,305
25$21,989,699$8,094,376$2,363,893$11,531,430
26$23,089,184$8,501,186$2,482,087$12,105,911
27$24,243,644$8,928,336$2,606,192$12,709,116
28$25,455,825$9,376,843$2,736,501$13,342,481
29$26,728,617$9,847,776$2,873,326$14,007,515
30$28,065,048$10,342,255$3,016,993$14,705,800
Total$453,000,001$166,355,634$48,697,498$237,946,868

◄ Back to Jackpot Analysis

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.