USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Dec 6, 1996

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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 $9,000,000 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, Dec 6, 1996
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$14,562$95,347
2$142,236$27,179$15,290$99,767
3$149,348$28,886$16,055$104,407
4$156,815$30,678$16,858$109,279
5$164,656$32,560$17,701$114,396
6$172,889$34,536$18,586$119,767
7$181,533$36,610$19,515$125,408
8$190,610$38,789$20,491$131,330
9$200,140$41,731$21,515$136,894
10$210,147$44,934$22,591$142,623
11$220,655$48,296$23,720$148,638
12$231,688$51,827$24,906$154,955
13$243,272$55,534$26,152$161,587
14$255,436$59,777$27,459$168,199
15$268,207$64,247$28,832$175,128
16$281,618$68,941$30,274$182,403
17$295,699$73,869$31,788$190,042
18$310,483$79,044$33,377$198,063
19$326,008$84,477$35,046$206,484
20$342,308$90,183$36,798$215,327
21$359,423$96,173$38,638$224,612
22$377,395$102,463$40,570$234,362
23$396,264$109,067$42,598$244,599
24$416,078$116,002$44,728$255,347
25$436,881$123,283$46,965$266,633
26$458,726$130,929$49,313$278,484
27$481,662$138,956$51,779$290,927
28$505,745$147,385$54,368$303,992
29$531,032$156,236$57,086$317,710
30$557,584$165,529$59,940$332,114
Total$9,000,000$2,303,675$967,501$5,728,824

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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.