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New Jersey Mega Millions Jackpot Annuity Payout Schedule for Oct 23, 2018

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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 $1,537,000,000 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:Tue, Oct 23, 2018
Jackpot:$1,537,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$23,134,056$8,517,788$2,486,911$12,129,356
2$24,290,759$8,945,768$2,611,257$12,733,734
3$25,505,296$9,395,147$2,741,819$13,368,329
4$26,780,562$9,866,996$2,878,910$14,034,656
5$28,119,589$10,362,436$3,022,856$14,734,297
6$29,525,569$10,882,648$3,173,999$15,468,922
7$31,001,848$11,428,871$3,332,699$16,240,278
8$32,551,940$12,002,406$3,499,334$17,050,201
9$34,179,537$12,604,616$3,674,300$17,900,620
10$35,888,513$13,236,938$3,858,015$18,793,561
11$37,682,939$13,900,875$4,050,916$19,731,148
12$39,567,086$14,598,010$4,253,462$20,715,615
13$41,545,440$15,330,001$4,466,135$21,749,305
14$43,622,713$16,098,592$4,689,442$22,834,680
15$45,803,848$16,905,612$4,923,914$23,974,323
16$48,094,041$17,752,983$5,170,109$25,170,949
17$50,498,742$18,642,722$5,428,615$26,427,405
18$53,023,680$19,576,949$5,700,046$27,746,685
19$55,674,863$20,557,887$5,985,048$29,131,928
20$58,458,607$21,587,872$6,284,300$30,586,434
21$61,381,537$22,669,356$6,598,515$32,113,665
22$64,450,614$23,804,915$6,928,441$33,717,258
23$67,673,145$24,997,251$7,274,863$35,401,030
24$71,056,801$26,249,204$7,638,606$37,168,991
25$74,609,641$27,563,755$8,020,536$39,025,350
26$78,340,125$28,944,034$8,421,563$40,974,527
27$82,257,131$30,393,326$8,842,642$43,021,163
28$86,369,986$31,915,083$9,284,773$45,170,130
29$90,688,486$33,512,927$9,749,012$47,426,546
30$95,222,911$35,190,665$10,236,463$49,795,783
Total$1,537,000,003$567,435,633$165,227,501$804,336,869

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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.