USA Mega

New Jersey Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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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 $20,000,000 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, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$32,361$188,764
2$316,080$85,172$33,979$196,929
3$331,884$90,704$35,678$205,503
4$348,478$96,512$37,461$214,505
5$365,902$102,610$39,334$223,958
6$384,197$109,013$41,301$233,883
7$403,407$115,737$43,366$244,304
8$423,578$122,796$45,535$255,247
9$444,757$130,209$47,811$266,736
10$466,994$137,992$50,202$278,800
11$490,344$146,165$52,712$291,467
12$514,861$154,746$55,348$304,768
13$540,604$164,096$58,115$318,393
14$567,635$174,097$61,021$332,517
15$596,016$184,598$64,072$347,346
16$625,817$195,625$67,275$362,917
17$657,108$207,202$70,639$379,267
18$689,963$219,359$74,171$396,434
19$724,461$232,123$77,880$414,459
20$760,685$245,526$81,774$433,385
21$798,719$259,598$85,862$453,258
22$838,655$274,374$90,155$474,125
23$880,587$289,890$94,663$496,035
24$924,617$306,180$99,396$519,040
25$970,848$323,286$104,366$543,196
26$1,019,390$341,247$109,584$568,559
27$1,070,360$360,105$115,064$595,191
28$1,123,878$379,907$120,817$623,154
29$1,180,071$400,699$126,858$652,515
30$1,239,075$422,530$133,201$683,344
Total$20,000,000$6,352,002$2,150,001$11,497,999

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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.