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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 2013

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The tax information provided here is based on 2022 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 $47,000,000 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 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$76,047$406,671
2$742,788$237,787$79,850$425,152
3$779,928$251,528$83,842$444,557
4$818,924$265,957$88,034$464,933
5$859,870$281,107$92,436$486,327
6$902,864$297,015$97,058$508,791
7$948,007$313,718$101,911$532,379
8$995,407$331,256$107,006$557,145
9$1,045,178$349,671$112,357$583,150
10$1,097,437$369,007$117,974$610,456
11$1,152,308$389,309$123,873$639,126
12$1,209,924$410,627$130,067$669,230
13$1,270,420$433,010$136,570$700,840
14$1,333,941$456,513$143,399$734,029
15$1,400,638$481,191$150,569$768,878
16$1,470,670$507,103$158,097$805,470
17$1,544,204$534,310$166,002$843,891
18$1,621,414$562,878$174,302$884,234
19$1,702,484$592,874$183,017$926,593
20$1,787,609$624,370$192,168$971,071
21$1,876,989$657,441$201,776$1,017,772
22$1,970,839$692,165$211,865$1,066,808
23$2,069,380$728,626$222,458$1,118,296
24$2,172,849$766,909$233,581$1,172,359
25$2,281,492$807,107$245,260$1,229,125
26$2,395,567$849,315$257,523$1,288,729
27$2,515,345$893,633$270,400$1,351,313
28$2,641,112$940,166$283,920$1,417,026
29$2,773,168$989,027$298,116$1,486,025
30$2,911,826$1,040,331$313,021$1,558,474
Total$47,000,000$16,278,650$5,052,499$25,668,850

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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.